Google · CNBC Technology
Intel leads the list of most overbought stocks after this week's comeback rally
Compiled by KHAO Editorial — aggregated from 1 outlet. See llms.txt for citation guidance.
◌ Single Source
Intel emerged as one of the most overbought stocks this week after the chip giant entered new partnerships with Google and Elon Musk 's Terafab project.
Key facts
- The tech-heavy Nasdaq Composite led the gains, rising 4.7%, while the S & P 500 and Dow Jones Industrial Average followed with increases of 3.6% and 3%, respectively
- Investors appeared to leave software stocks in the dumps this week, with the iShares Expanded Tech-Software Sector ETF (IGV) closing the week 7% lower
- Stocks with a 14-day RSI above 70 are considered overbought, meaning that a pullback could be on the horizon
- Fellow software stock Salesforce was also on the list, with a week-to-date decline of 11%, as of Friday midday, and RSI of 29
Summary
The tech-heavy Nasdaq Composite led the gains, rising 4.7%, while the S & P 500 and Dow Jones Industrial Average followed with increases of 3.6% and 3%, respectively. Stocks with a 14-day RSI above 70 are considered overbought, meaning that a pullback could be on the horizon. The table below lists this week's most overbought stocks: Intel stock had surged nearly 25% on the week, as of Friday midday, ending up with an RSI of 75.