S&P 500 Sees 44 Stocks in Oversold Territory Amid Intensified Selling Pressure.

IBM and LULU are among the top 10 most oversold S&P 500 stocks. Nearly 10% of S&P 500 components are trading in oversold territory, according to the relative strength index (RSI), indicating intensified selling pressure. A total of 44 stocks in the benchmark index are oversold, with IBM and LULU ranking among the top 10.

Nearly 10% of S&P 500 components are trading in oversold territory, according to the relative strength index (RSI), indicating intensified selling pressure. A total of 44 stocks in the benchmark index are oversold, with IBM (NYSE:IBM) and Lululemon Athletica (NASDAQ:LULU) ranking among the top 10. The RSI, a momentum oscillator, measures the speed and change of price movements, and readings below 30 are often considered oversold.

The 10 most oversold S&P 500 stocks, based on RSI levels, are as follows:

1. Gartner (IT), RSI of 9.18
2. Fortinet (FTNT), RSI of 16.80
3. GoDaddy (GDDY), RSI of 17.88
4. Charter Communications (CHTR), RSI of 20.04
5. IBM (NYSE:IBM), RSI of 20.22
6. Accenture (CAN), RSI of 20.66
7. Lululemon Athletica (NASDAQ:LULU), RSI of 22.30
8. International Flavors & Fragrances (IFF), RSI of 22.60
9. Fiserv (FI), RSI of 23.01
10. LKQ Corp. (LKQ), RSI of 23.05

Investors should be cautious when interpreting RSI readings, as they can indicate overreaction to negative news or market sentiment. However, prolonged oversold conditions may signal a potential buying opportunity for patient investors. It is essential to consider other technical indicators and fundamentals when making investment decisions.

References:
[1] https://seekingalpha.com/news/4483893-ibm-and-lulu-find-themselves-among-the-top-10-most-oversold-sp-500-stocks