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Expedia and Beauty Stock are among Wall Street’s Most Oversold Names. Here are the Others.

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As the S&P 500 touts its third straight winning week with a 1.8% advance, certain individual stocks have experienced a sharp decline and are considered oversold. By using the CNBC Pro Stock Screener tool, stocks with a 14-day RSI lower than 30 fall under oversold territory and may be due for a rebound in the future. Some of the most oversold names include Expedia and Ulta. Expedia, which reported lower guidance for the full year, has a 14-day RSI reading of about 26. Ulta, on the other hand, has lost nearly 24% in the current quarter due to increased competition and has a 14-day RSI of 29. Despite these oversold conditions, analysts are still bullish on both stocks.

On the other hand, CNBC also found some S&P 500 stocks that are overbought and may see a pullback in the near future. Defense tech company Leidos Holdings is the most overbought name on the list with a 14-day RSI reading of 83.069. Analysts have a buy rating on the stock, but the consensus price target suggests shares may only have 7.7% upside from their current levels. NextEra Energy and Garmin are two other stocks that analysts believe could experience a pullback soon. Despite their recent gains, the consensus price targets for both stocks imply potential downside. NextEra Energy is up more than 21% year to date, while Garmin has rallied over 31% for the year.

It’s important to note that the information provided in the article is for informational purposes only and does not constitute financial, investment, tax, or legal advice. Before making any financial decisions, individuals are advised to seek advice from their own financial or investment advisor. The content is general in nature and may not be suitable for everyone’s particular circumstances. Therefore, it’s crucial to consider individual circumstances before making any financial decisions.

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