Overbought Alert
The main market averages all fell on Tuesday, following a modest drop on Monday. This comes after a rapid advance for the most of the first two months of the year, which has caused several stocks to show indications of being overbought.
The RSI indicator has identified Wall Street’s ten most overbought equities, which are shown below. For example, stocks with ratings above 70 are deemed overbought by the indicator. The list is limited to large-cap names.
Most Overbought Large Cap Stocks According to RSI Readings
No. 10: Waste Management (NYSE:WM), 81.73.
No. 9: Constellation Energy Corporation (CEG), 81.77.
No. 8: Ulta Beauty (NASDAQ:ULTA), 82.09.
No. 7: The Hartford Financial Services Group (HIG) ranks seventh with 82.22.
No. 6: General Electric Company (NYSE:GE), 83.06.
No. 5: Howmet Aerospace Inc. (HWM), 83.15.
No. 4: Vista Corp. (VST), 84.16.
No. 3: Li Auto (NASDAQ:LI), 85.46.
No. 2: Leidos Holdings (LDOS), 86.27.
No. 1: EMCOR Group, Inc. (EME), 86.78.
Year-to-date price changes: WM +15.5%, CEG +28.9%, ULTA +14.7%, HIG +18.8%, GE +20.4%, HWM +21.6%, VST +30.8%, LI +23.2%, LDOS +16.6%, and EME +27.4%.
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