The average S&P 500 stock is currently 4.33% above its 50-day, which is a very high reading. The S&P 500 itself is trading 3.5% above its 50-day. Below is a list of the 35 S&P 500 stocks that are currently trading the farthest above their 50-days and a list of the 35 that are the farthest below.
So states the Bespoke Investment Group (www.bespokeinvest.com) in edited excerpts from the original post* entitled Most Extended S&P 500 Stocks.
This article is presented compliments of www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com (Your Key to Making Money!) and may have been edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.
The article goes on to say:
Most Overbought S&P 500 Stocks
Below is a list of the 35 S&P 500 stocks that are currently trading the farthest above their 50-days. As shown, Best Buy (BBY) — yes, Best Buy! — is the farthest above its 50-day at 33.75%, followed by Hewlett-Packard (HPQ) — yes, Hewlett-Packard! — at 23.79%. Other notables on the list of the most extended stocks above their 50-days are Netflix (NFLX), Electronic Arts (EA), TripAdvisor (TRIP), Boeing (BA) and Washington Post (WPO).
Most Oversold S&P 500 Stocks
Just 84 S&P 500 stocks are currently below their 50-days, and below is a list of the 35 that are the farthest below. Cliffs Natural Resources (CLF) ranks first at -32.13%, followed by JC Penney (JCP) at -17.59% and Intuitive Surgical (ISRG) at -14.20%. Apollo (APOL), US Steel (X) and First Solar (FSLR) are the only other stocks more than 10% below their 50-days. And if you’re wondering about Apple (AAPL), yes it’s on the list of losers at 5.40% below its 50-day.
*http://www.bespokeinvest.com/thinkbig/2013/3/15/most-extended-sp-500-stocks.html (This work is licensed under a Creative Commons License; Interested in running your portfolio through our trading range screen on a regular basis? Become a Premium Plus subscriber today! If you’re looking for additional analysis to stay on top of this gravity-defying market, become a Bespoke subscriber today and check out our popular weekly newsletter. You won’t be disappointed.)
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The mainstream financial press would like us to believe that because the S&P 500 and Dow 30 are at or near their record highs that it must mean we’re nearing the end of the current bull market and, as such, now must be a terrible time to buy stocks. Let’s not jump to any conclusions, though. Instead, let’s do our own due diligence to find out. Hint: If you’ve been stuffing cash under the mattress since the last market crash, you might want to finally go deposit it in your brokerage account. Here’s why… Words: 420
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