These stocks are most overbought even as the S&P 500 posts a losing week
Several stocks remain technically overbought even as the S&P 500 pulled back on the week amid rising Treasury yields and inflation concerns.
TL;DR
- The S&P 500 declined 1.4% on the week due to a rise in Treasury yields, ending a three-week winning streak.
- Several individual stocks entered overbought territory (RSI > 70) due to significant weekly gains.
- Moderna and Merck were among the most overbought stocks, both showing positive initial results for an experimental personalized cancer vaccine in late-stage trials.
- Moderna surged 129% and had an RSI of 70, while Merck gained 12% with an RSI of 77.
- Estée Lauder also landed in overbought territory, with shares up over 18% after strong earnings results and an improved fiscal 2027 outlook.
- Agilent Technologies (RSI 79) and Thermo Fisher Scientific (RSI 71) were also identified as overbought, both holding buy consensus ratings.