Several companies appear oversold this week and could be due for a rebound after a wild week on Wall Street. Despite Friday's broad rally, the S & P 500 was headed for its second straight weekly pullback. That would mark the first time since April that the benchmark has posted consecutive one-week declines.
Earlier this week, both the S & P 500 and Nasdaq Composite had their worst days since late 2022 — as investors turned away from mega-cap tech and put their money towards small-caps and other cyclical areas of the market. This recent market action may have pushed some stocks down too much too quickly. Against this backdrop and using the CNBC Pro Stock Screener tool, we found which names appear the most oversold and overbought in this market based on their 14-day relative strength index, or RSI.
Stocks with a 14-day RSI reading below 30 often indicate that it's oversold, with a potential rebound possible ahead for the company's shares. An RSI reading greater than 70 means a stock is overbought, suggesting shares could be at risk of a pullback after too much optimism. Here are some of the most oversold names: Dexcom is the most oversold stock of the list, with a 14-day RSI of 11.
6%. Shares plummeted more than 40% on Friday after the medical device maker posted disappointing quarterly results and weak guidance. Entertainment conglomerate Walt Disney is also oversold, based on the popular metric.
The stock has an RSI reading of about 22. But shares, which are down about 0.5% .