Today we are looking at the most overbought stocks in the S&P 500 based on our proprietary counter trend system. These stocks are extremely strong and have performed very well as you can see the returns over the last three months (QTD).
At this juncture they are exhausted and we are now looking for fresh new names that will run hard. By no means should an overbought indication be used as a mean reverting short trade.
THE LIST
The names are in order from most overbought:
- RTN – Raytheon
- WYNN – Wynn Resorts
- LUV – Southwest Airlines
- ACT – Actavis
- HP – Helmerich & Payne
- TRN – Trinity Industries
- THO – Thor Industries Inc
- STZ – Constellation Brands
- FRX – Forest Laboratories
- GD – General Dynamics
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