These are the most overbought and oversold stocks on Wall Street right now

For traders, one widely-used metric can help participants separate the most overbought, and oversold, stocks on Wall Street right now. The "relative strength index" measures the speed and magnitude of recent price moves , letting investors gauge possible overbought and oversold conditions in the market. A stock that has a 14-day RSI greater than 70 is considered overbought, meaning it may be extended after a strong run, meaning time for investors to reduce exposure.

In October, Barclays said investors should sell shares of Amgen given high expectations around an obesity drug. Goldman Sachs, however, said in a November note that the obesity treatment can potentially unlock a "blockbuster opportunity." Moderna shares were also oversold, according to CNBC's screen. The pharmaceutical stock has a 14.6 14-day RSI rating, with just 35% of analysts rating the stock a buy. Moderna shares have dropped 8% this year.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

U.S. stock futures point to another down day on Wall Street amid earnings disappointmentInvestors are weighing up a tough week that has had markets struggling to figure out fresh catalysts to take stocks higher.
Source: MarketWatch - 🏆 3. / 97 Read more »

Lionsgate Records $80.8 Million Write-Down, Quarterly Earnings Beat Wall Street EstimatesLionsgate handily beat Wall Street estimates in its most recent fiscal quarter, as the company continued to explore spinning off or selling Starz, its cable and streaming business. Revenue at the m…
Source: Variety - 🏆 108. / 63 Read more »

With record Super Bowl wagers expected, here are Wall Street's top sports-betting stocksCNBC Pro screened for the sports-betting stocks most loved by Wall Street analysts and have at least 10% upside to the average price target. You should warn us when your articles are only available to subscribers.
Source: CNBC - 🏆 12. / 72 Read more »