S&P 500’s recent selloff has led to certain stocks entering oversold territory, with 46 out of 500 stocks holding an RSI below 30, which is traditionally considered the threshold oversold levels.
The RSI indicator indicates oversold and overbought areas, with levels of 30 and below indicating oversold territory and 70 and above indicating overbought areas.
Top 10 Oversold S&P 500 Stocks
No. 10: J.B. Hunt Transport Services (JBHT): RSI 24.90.
No. 9: Ross Stores (ROST): RSI 24.64.
No. 8: Steris Plc (STE): RSI 24.55.
No. 7: Incyte Corp. (INCY): RSI 24.52.
No. 6: Biogen (BIIB): RSI 24.38.
No. 5: Cognizant Technology Solutions (CTSH): RSI 23.42.
No. 4: Ulta Beauty (ULTA): RSI 22.52.
No. 3: Equifax (EFX): RSI 22.48.
No. 2: Idexx Laboratories (IDXX): RSI 20.74.
No. 1: Prologis (NYSE:PLD): RSI 15.37.
Year-to-date price action: JBHT -15.9%, ROST -4.6%, STE -8.6%, INCY -16.4%, BIIB -26.2%, CTSH -11.1%, ULTA -15.8%, EFX -13.1%, IDXX -14.5%, and PLD -22.4%.