Investors have been accumulating shares of several big-name companies, from GE Vernova to United Airlines , during the market's recent dip.
But those and other overbought stocks could be due for a pullback, according to one popular yardstick.
Strong earnings from tech giants Amazon and Intel late Thursday were partly responsible for equity gains on Friday, as investors still look to megacap tech stocks for leadership.
CNBC Pro screened for stocks that are considered technically overbought on the basis of their 14-day relative strength index, or RSI.
Companies with a 14-day RSI above 70 are often regarded as overbought, signaling a pullback may be ahead, while a 14-day RSI below 30 often suggests a stock is oversold and could see future upside.
Persons:
Nicole DeBlase, DeBlase, FactSet, Estée Lauder, Dr Pepper
Organizations:
GE Vernova, United Airlines, Dow, Nasdaq, Amazon, Intel, CNBC Pro, Companies, GE, FactSet, Electric, Deutsche Bank, Pharmaceuticals, eBay
Locations:
United, U.S, Chicago, China