Overbought Stocks

Overbought Stocks is a list of the most overbought stocks today based on the RSI momentum technical indicator. Overbought stocks are worth watching for traders because the trend for overbought stocks may reverse.

Symbol	Chart	Open	High	Low	Close	Volume	% Change
ABCL		2.72	2.92	2.71	2.75	1.89M	0.73%
GRNT		6.26	6.47	6.26	6.31	452.1K	0.16%
FPE		18.10	18.15	18.09	18.10	1.19M	0.06%
USHY		37.50	37.66	37.44	37.50	4.65M	0.05%
FPEI		19.00	19.05	18.96	19.00	470.6K	0.05%
SIRI		23.91	23.97	23.14	23.27	8.03M	0.00%
NMRK		14.94	15.33	14.82	14.93	1.49M	0.00%
WT		9.89	10.03	9.82	9.86	1.03M	0.00%
BIGC		6.11	6.36	6.02	6.11	897.9K	0.00%
PFXF		18.29	18.39	18.20	18.26	796.7K	0.00%
VUSB		49.88	49.92	49.86	49.88	673.4K	0.00%
CGMU		27.51	27.54	27.45	27.49	368.1K	0.00%
XSMO		65.01	66.55	64.61	64.92	367.7K	0.00%
LMBS		49.46	49.57	49.42	49.50	352.7K	0.00%
LOGC		5.40	5.53	5.34	5.37	312.8K	0.00%
PWZ		25.10	25.24	25.05	25.15	256.6K	0.00%
TCBI		71.88	74.31	70.89	71.93	443.9K	-0.01%
GSY		50.32	50.34	50.30	50.31	649.9K	-0.02%
SLF		56.53	56.93	56.19	56.40	441.5K	-0.02%
CGSD		25.95	25.97	25.90	25.93	239.5K	-0.04%
ICUI		175.75	179.91	175.31	176.22	234.5K	-0.04%
HIGH		23.42	23.48	23.42	23.45	206.4K	-0.04%
FND		117.67	121.19	114.92	117.50	1.29M	-0.05%
PFFD		20.88	20.96	20.78	20.82	619.1K	-0.05%
CHUY		37.37	37.38	37.33	37.34	608.8K	-0.05%
VCSH		79.34	79.52	79.26	79.33	3.34M	-0.06%
STIP		101.12	101.34	101.06	101.11	248.6K	-0.07%
BX		155.30	157.76	152.69	154.93	3.91M	-0.08%
VTIP		49.20	49.33	49.19	49.21	649.5K	-0.08%
ADEA		12.21	12.70	12.17	12.25	442.5K	-0.08%
IBDS		24.34	24.42	24.33	24.35	348.1K	-0.08%
CUBE		54.67	55.14	53.98	54.00	1.53M	-0.09%
GMRE		10.36	10.37	10.14	10.14	641K	-0.10%
BSCS		20.64	20.70	20.62	20.64	559.7K	-0.10%
CGMS		27.86	27.98	27.85	27.86	978.7K	-0.11%
ELME		18.13	18.49	18.04	18.12	640.5K	-0.11%
VNQ		98.43	99.58	98.02	98.16	5.1M	-0.12%
LYV		103.34	104.72	102.32	102.80	1.72M	-0.12%
VOYA		77.05	77.46	76.31	76.78	777.7K	-0.12%
PR		13.86	14.14	13.76	13.86	9.6M	-0.14%
INFN		6.65	6.76	6.64	6.65	14.76M	-0.15%
PYLD		26.63	26.68	26.59	26.60	748.1K	-0.15%
MQY		13.05	13.05	12.95	13.00	263K	-0.15%
WEX		202.80	205.40	201.65	202.45	276K	-0.17%
PSK		35.78	35.89	35.68	35.76	257K	-0.17%
IYR		102.93	104.04	102.42	102.57	6.22M	-0.18%
MAGS		45.27	45.80	44.92	45.05	625.9K	-0.18%
PCVX		116.75	118.70	114.90	116.54	606.4K	-0.18%
DFAU		38.85	39.22	38.67	38.71	542.7K	-0.18%
PLTR		35.90	37.11	35.87	36.38	65.9M	-0.19%
XHB		122.10	124.84	120.51	121.64	2.41M	-0.19%
CTRE		31.13	31.51	30.90	30.94	2.23M	-0.19%
SCHH		23.39	23.66	23.26	23.31	3.61M	-0.21%
PFFV		24.09	24.14	24.01	24.07	234.6K	-0.21%
TDOC		9.04	9.61	9.03	9.09	9.57M	-0.22%
XEL		64.44	64.61	63.88	64.36	5.17M	-0.22%
GVA		77.86	79.17	77.37	77.50	607.5K	-0.22%
FBCG		41.54	41.98	41.23	41.37	257.5K	-0.22%
PTLO		13.34	13.60	13.11	13.28	775.5K	-0.23%
NWE		56.60	57.03	56.26	56.54	427.3K	-0.23%
LAUR		16.67	16.96	16.46	16.65	1.18M	-0.24%
VTI		278.37	281.06	277.09	277.35	3.38M	-0.25%
DOCS		40.10	40.99	39.62	40.06	1.6M	-0.25%
BNS		52.56	52.90	52.27	52.43	1.37M	-0.25%
SPUS		40.59	40.99	40.35	40.41	278.7K	-0.25%
AI		23.27	24.25	23.23	23.27	3.15M	-0.26%
SDIV		22.70	22.93	22.61	22.67	220.2K	-0.26%
SOLV		72.30	73.27	71.51	72.13	679.7K	-0.28%
CGBL		30.86	31.05	30.72	30.74	280.5K	-0.29%
OGS		73.39	74.08	73.00	73.31	238.1K	-0.29%
SCHX		66.67	67.25	66.33	66.40	3.25M	-0.30%
REET		26.98	27.24	26.84	26.89	737.3K	-0.30%
DNP		9.83	9.83	9.79	9.79	458.8K	-0.31%
NI		34.19	34.37	33.85	34.07	2.45M	-0.32%
PSN		98.12	99.61	97.54	97.78	948.8K	-0.33%
JBGS		18.50	18.86	18.31	18.39	797.7K	-0.33%
PFSI		116.26	119.13	114.86	116.17	336.4K	-0.33%
VTR		64.60	64.94	63.91	64.21	2.49M	-0.34%
TVTX		14.37	14.75	14.05	14.35	1.98M	-0.35%
GWRE		172.17	173.08	170.70	172.43	939K	-0.35%
ETR		128.64	129.50	127.91	128.61	1.83M	-0.36%
CRVS		5.26	5.72	5.25	5.48	458.2K	-0.36%
YOU		32.70	33.85	32.29	32.47	2.71M	-0.37%
TIP		110.59	111.06	110.33	110.37	1.19M	-0.37%
VUG		375.19	378.29	372.75	372.89	852.3K	-0.38%
XOVR		15.74	15.74	15.65	15.65	648.3K	-0.38%
APP		123.30	125.75	120.64	123.16	7.24M	-0.39%
TXNM		43.31	43.47	42.96	43.06	532.2K	-0.39%
SITC		58.69	59.77	58.44	58.63	665.5K	-0.41%
GOOD		16.25	16.43	16.11	16.15	267.8K	-0.43%
USFD		61.49	62.34	60.46	60.91	2.37M	-0.44%
WY		33.33	33.53	33.00	33.10	4.27M	-0.45%
NGG		70.46	70.53	69.88	70.05	499K	-0.45%
BUR		13.44	13.67	13.32	13.38	423.4K	-0.45%
PNR		94.03	95.41	93.03	93.48	1.11M	-0.46%
SOC		25.72	26.15	25.28	25.77	913K	-0.46%
YEXT		6.51	6.67	6.47	6.50	674.4K	-0.46%
SIG		93.66	95.21	92.20	93.12	940.8K	-0.47%
FFIV		214.50	215.50	211.89	213.57	626K	-0.50%
BFLY		1.95	1.96	1.87	1.91	1.88M	-0.52%
CRC		52.36	53.37	51.89	52.31	908.9K	-0.55%
VRDN		22.44	22.65	20.61	21.06	1.58M	-0.57%
PEG		84.95	85.31	83.84	84.24	2.36M	-0.58%
IGF		53.93	54.09	53.56	53.59	274.1K	-0.58%
DCOM		28.83	29.67	28.06	28.58	279.9K	-0.59%
PCY		21.53	21.69	21.47	21.48	317.7K	-0.60%
LGIH		120.14	125.83	117.99	120.53	490.3K	-0.61%
GEV		238.62	241.52	234.00	235.67	3.25M	-0.62%
LYFT		12.29	12.66	12.11	12.17	11.05M	-0.65%
FLUT		231.54	232.05	228.00	229.05	1.69M	-0.65%
TSLT		14.81	15.53	14.42	14.46	3.63M	-0.69%
AVIR		4.00	4.10	3.92	3.99	442.7K	-0.75%
XLU		78.94	79.16	78.14	78.48	23.51M	-0.76%
SATS		26.12	26.58	25.19	25.71	1.33M	-0.77%
VPU		170.74	171.09	169.08	169.59	333.6K	-0.78%
VYX		13.91	14.05	13.71	13.78	1.41M	-0.79%
NAIL		166.04	175.11	160.12	163.72	874K	-0.82%
KVUE		23.44	23.52	23.08	23.19	15.23M	-0.86%
TGLS		67.82	68.95	66.60	66.99	328.2K	-0.86%
AXGN		14.65	15.08	14.43	14.56	364.6K	-0.88%
HLN		10.73	10.76	10.52	10.55	6.55M	-0.94%
CNS		95.99	97.17	93.58	95.37	282.4K	-0.95%
CM		61.60	61.60	60.81	60.90	949.6K	-1.10%
AEM		82.70	84.65	81.24	81.29	2.95M	-1.22%
AMLX		2.90	2.96	2.82	2.88	1.48M	-1.37%
VITL		32.31	33.62	31.88	31.98	984.1K	-1.39%
COMM		5.59	5.80	5.59	5.60	2.76M	-1.41%
HYFM		0.70	0.71	0.68	0.69	243.6K	-1.43%
FIVE		102.00	102.46	99.02	100.20	1.31M	-1.53%
NEON		12.51	15.00	11.52	11.73	3.29M	-1.59%
SPWH		3.05	3.22	3.02	3.03	653.9K	-1.62%
SIL		34.92	36.28	34.23	34.30	687.7K	-1.66%
ORCL		167.62	167.62	163.73	164.53	12.25M	-1.76%
SILJ		12.73	13.18	12.42	12.43	4.64M	-1.82%
RDFN		14.29	15.29	13.71	13.90	14.14M	-2.18%
COMP		6.52	6.78	6.38	6.39	6.5M	-2.29%
VOXX		6.25	6.25	5.78	6.02	279K	-2.75%
SAVA		31.79	32.30	29.63	30.32	1.97M	-3.13%
GATO		15.50	15.95	14.75	14.76	1.6M	-3.78%
GDXU		47.27	51.80	44.54	44.71	1.67M	-3.85%
FSLY		7.38	7.40	7.00	7.04	2.48M	-4.22%
WOOF		4.93	5.09	4.65	4.65	3.76M	-5.49%
IGMS		17.77	18.32	15.24	16.65	464.6K	-5.83%
GEVO		1.52	1.70	1.44	1.50	15.75M	-6.83%
HYZN		2.70	2.75	2.49	2.50	214.5K	-7.06%
BNTX		121.40	122.99	115.50	115.62	1.94M	-7.29%
ADD		1.57	1.68	1.32	1.36	1.19M	-13.38%
SNOA		4.63	5.13	3.64	4.30	1.74M	-17.31%
MULN		10.03	10.03	8.00	8.03	1.31M	-23.16%

What does overbought stock mean?

When a stock is overbought, that means it is overvalued. The definition of an overbought stock differs between investors and traders.

For a long term investor who focuses on fundamental analysis, an overvalued stock's PE ratio is too high, or the growth rate is too low.

For a short term trader who uses technical analysis, an overbought stock means the price of the stock rises too fast, and the trend may be reversed any time now.

Since our tools are based on technical analysis, we defined overbought stock as a trader. We use a technical indicator called the RSI to measure when a stock is overbought.

When the technical indicator RSI is above 70, a stock is considered an overbought stock. When the RSI indicator drops from 70, it generates a bearish signal. The most overbought stocks today listed above are based on the RSI indicator.

How to trade overbought stocks?

There are various ways to find stocks that are overbought using different types of technical indicators, RSI is one of the popular ones. Let's take a look at an example, TSLA.

• The RSI for TSLA went above 70 briefly in late March and the beginning of April, which means the stock is overbought at that level.
• A few days later, the MACD crossed down, which is another bearish signal
• TSLA then went down from around $1,150 in April to a low of $620 by the end of May.

The overbought signal works perfectly for this trade.

Overbought stock example

Here's another example of an overbought stock, SES, where the RSI indicator is over 70.

• The RSI for SES went above 70 and crossed down in late March. If you base your trade on the overbought signal, when the RSI crosses down 70 is when you go short on the stock, or to sell if you already have a long position.
• A few days later, the MACD crossed down, which is another bearish signal. It gives you a second chance to get out of this trade in case you were long on this stock.
• SES then went down from over $10 per share to a new low of $3.61 in less than 3 months.

Multiple technical indicators

In both of the above examples, we use an indicator called the MACD crosstown for confirmation on a stock. It is dangerous to rely solely on the RSI overbought signal.

Traders are free to use any other technical indicators for a confirmation signal. They can also use the overbought stock as a secondary signal to confirm with any primary indicator they use.

Why is stop loss important?

Please remember just because a stock is in the overbought zone doesn't necessarily mean it is a SELL. Some strong stocks may keep going up for a long time before they reach their peak.

During that time, the RSI will stay above 70 and the stock will remain overbought. It is not a good idea to sell or short a stock just because the RSI indicator indicates it is an overbought stock. You should combine the overbought signals with other technical indicators and the general trend of the market.

Therefore, if we use RSI above 70 as a bearish signal and short a stock based on this indicator, we need to have a tight stop loss in the case when we are wrong.

Price Stop - The stop loss could be a price stop-loss meaning if a stock keeps going up and hits a certain price, we would cut our losses and cover the trade.

Time Stop - Whenever we are in a trade using the overbought signal, we expect the trade to work in our favor quickly. If it does not, we need to cover the trade to protect ourselves from losses. You can set a time stop for a week or two depending on your strategy and comfortable level.

Let's take a look at the following example where the overbought stock gives us a false signal.

• As we can see from the above chart for the stock MYE, the RSI indicator went above 70 in late March.
• A few days later, the MACD crossed down, which is another bearish signal.
• However, the stock price of MYE kept going up from around $21 to $25. That is why we should use a stop loss. A few of these failed trades might crush our portfolio if we stay in the trade without cutting losses.

To learn more about trading, read Swing Trading Strategies.

How to find overbought stocks

The stocks that you find on this overbought stocks list are based on the RSI indicator. If you prefer to use the stochastic oscillator for overbought stocks, you can use our free technical stock screener.

• Go to https://stock-screener.org/
• Scroll down to the Technical Analysis Screener
• Check the box next to Stochastic Crossover
• Set the stochastic between 80 & 100 - any stock with the stochastic oscillator over 80 is considered overbought.

Final Words

As with any other indicator, the overbought signal doesn't always work. As a trader, we should always cut our losses quickly if we are shorting a stock based on the overbought indicator.

Always keep in mind that technical analysis is an art, and not a science. One plus one does not always equal two in trading. It is also recommended that you combine the overbought indicator with other technical indicators, such as support & resistance levels, trendlines, candlestick patterns, or the MACD.

One should also backtest his strategy against historical data and see how well the strategy works. The best thing to do would be to study a lot of charts, and see if you can find patterns when the overbought pattern works the best.

The only way that you can trade for the long term is to first survive. Professional traders always cut their losses small which is the opposite of what beginners are doing. They let their losses run and cut profits too soon.

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