Stocks eked out a winning week. Here are the names that are now overbought
Investors may have gotten overenthusiastic on a couple big names.
TL;DR
- The S&P 500 gained 0.5% for the week, influenced by Nvidia's strong fiscal 2028 projections.
- Nvidia's performance boosted the broader chip sector, including memory stocks.
- Some stocks, like Salesforce and J.M. Smucker, moved into overbought territory (RSI > 70) after significant weekly gains.
- Salesforce surged 22% on a strong earnings report and a partnership with Anthropic, countering concerns about the software sector.
- J.M. Smucker reported increased net sales and earnings, benefiting from tariff refunds and moderating coffee costs.