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Walmart and Clorox are among the most overbought stocks on Wall Street. Here are some others

J.Thompson21 hr ago
As the S & P 500 nears its all-time high set in mid-July, some stocks may have become too overbought and due for a pullback. The broad market index is on pace to rally for five consecutive positive sessions, and is almost 4% higher this wek alone. The tech-heavy Nasdaq Composite has surged 5.8% this week, while the Dow Jones Industrial Average is 2.5% higher. That performance has left a ghost of stocks with outsized gains. With that in mind, CNBC Pro used its stock screener tool to find the most overbought and oversold companies, using each one's 14-day relative strength index, or RSI. Stocks with a 14-day RSI score above 70 are typically regarded as overbought, indicating a pullback may be looming, while a 14-day RSI under 30 suggests a stock is oversold and may rebound. Retail colossus Walmart is among this week's most overbought stocks, with an 14-day RSI reading of 81.7. Although analysts remain bullish on Arkansas-based chain, the consensus price target is only 1% above the stock's current level, according to LSEG, indicating a pullback may be ahead. Walmart traded at a new all-time high on Friday, bringing the year-to-date gain to a market-beating 53%. WMT YTD mountain Walmart shares in 2024 Clorox is another company on the list. The bleach and Glad bag maker has an RSI reading of 78.8 after soaring nearly 25% over the past three months . Now, analysts are less sure on Clorox, with three-fifths of those covering the company rating it a hold. The average price target on the Oakland, Calif.-based stock is nearly 10% below the stock's current price, sugesting a pullback may lie ahead. Year to date, Clorox shares are up more than 16%. Consumer healthcare company Kenvue , spun off from Johnson & Johnson in August 2023, was also overbought this week, with an RSI of 78.6. Half of the analysts covering the Band-Aid maker rate it a hold, and their average price target implies the stock will decline about 5% over the next year. Shares are up 29% over the past three months. Now take a look at some of this week's most oversold stocks: Several oil companies have suffered even as the broader market has bounced back from sell-offs in August and September. Energy is the only one of 11 S & P 500 sectors that's down this week, as oil prices closed at a nearly three-year low on Tuesday. Oil and oil service stocks Halliburton and APA have 14-day RSI readings of 22.5 and 23.9, respectively. Occidental Petroleum has an RSI reading of 24.4. According to consensus price forecasts, these stocks could climb over the next year. Analysts estimate Halliburton and APA might rally nearly 60% each, while Occidental's price target is 38% above its current level. Week to date, Halliburton shares have fallen 3%, APA has declined 5.6%, while Occidental Petroleum has sold off 1.9%. Pharmaceutical company Moderna is another unloved name that may soon bounce back. The vaccine maker continued to fall more than 3% on Friday after JPMorgan downgraded it to underweight, citing changes to its revenue forecast. The average price target on Moderna implies nearly 76% upside potential for shares, even as most analysts rate the stock a hold. Moderna shares have lost 7.4% this week,bringing the 2024 decline to 32%. MRNA YTD mountain Moderna shares year to dateGabby Jones | Bloomberg |

As the S&P 500 nears its all-time high set in mid-July, some stocks may have become too overbought and due for a pullback.

The broad market index is on pace to rally for five consecutive positive sessions, and is almost 4% higher this wek alone. The tech-heavy Nasdaq Composite has surged 5.8% this week, while the Dow Jones Industrial Average is 2.5% higher.

That performance has left a ghost of stocks with outsized gains. With that in mind, CNBC Pro used its stock screener tool to find the most overbought and oversold companies, using each one's 14-day relative strength index, or RSI. Stocks with a 14-day RSI score above 70 are typically regarded as overbought, indicating a pullback may be looming, while a 14-day RSI under 30 suggests a stock is oversold and may rebound.

This week's most overbought namesAnalyst Consensus Price Target + / - KKellanova87.87Hold-1.95VTRVentas Inc85.11Buy-3.2WELLWelltower Inc82.44Buy-5.13UDRUDR Inc82.2Buy-4.29WMTWalmart Inc81.75Buy1.03COOCooper Companies Inc80.24Buy3.13PSAPublic Storage79.71Buy-5.94ORCLOracle Corp79.69Buy-1.66CLXClorox Co78.83Hold-9.24KVUEKenvue Inc78.63Hold-4.2

Retail colossus Walmart is among this week's most overbought stocks, with an 14-day RSI reading of 81.7. Although analysts remain bullish on Arkansas-based chain, the consensus price target is only 1% above the stock's current level, according to LSEG, indicating a pullback may be ahead.

Walmart traded at a new all-time high on Friday, bringing the year-to-date gain to a market-beating 53%.

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Clorox is another company on the list. The bleach and Glad bag maker has an RSI reading of 78.8 after soaring nearly 25% over the past three months .

Now, analysts are less sure on Clorox, with three-fifths of those covering the company rating it a hold. The average price target on the Oakland, Calif.-based stock is nearly 10% below the stock's current price, sugesting a pullback may lie ahead.

Year to date, Clorox shares are up more than 16%.

Consumer healthcare company Kenvue , spun off from Johnson & Johnson in August 2023, was also overbought this week, with an RSI of 78.6. Half of the analysts covering the Band-Aid maker rate it a hold, and their average price target implies the stock will decline about 5% over the next year. Shares are up 29% over the past three months.

Now take a look at some of this week's most oversold stocks:

This week's most oversold namesAnalyst Consensus Price Target + / - HALHalliburton Co22.55Buy56.98APAAPA Corp (US)23.94Hold59.15OXYOccidental Petroleum Corp24.39Hold37.59DLTRDollar Tree Inc24.67Hold20.1DGDollar General Corp24.81Hold21.25MRNAModerna Inc25.48Hold75.94HUMHumana Inc25.67Buy21.46SLBSLB25.87Buy62.97WBAWalgreens Boots Alliance Inc27.23Hold30.59BBWIBath & Body Works Inc27.37Buy57.7

Several oil companies have suffered even as the broader market has bounced back from sell-offs in August and September. Energy is the only one of 11 S&P 500 sectors that's down this week, as oil prices closed at a nearly three-year low on Tuesday.

Oil and oil service stocks Halliburton and APA have 14-day RSI readings of 22.5 and 23.9, respectively. Occidental Petroleum has an RSI reading of 24.4.

According to consensus price forecasts, these stocks could climb over the next year. Analysts estimate Halliburton and APA might rally nearly 60% each, while Occidental's price target is 38% above its current level.

Week to date, Halliburton shares have fallen 3%, APA has declined 5.6%, while Occidental Petroleum has sold off 1.9%.

Pharmaceutical company Moderna is another unloved name that may soon bounce back. The vaccine maker continued to fall more than 3% on Friday after JPMorgan downgraded it to underweight, citing changes to its revenue forecast.

The average price target on Moderna implies nearly 76% upside potential for shares, even as most analysts rate the stock a hold.

Moderna shares have lost 7.4% this week,bringing the 2024 decline to 32%.

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