Microsoft and Eli Lilly are among the most overbought stocks as the first half ends

[Pelican Press 0]

This is the hidden content, please

• Sign In
• or
• Sign Up

and Eli Lilly are among the most overbought stocks as the first half ends

This is the hidden content, please

• Sign In
• or
• Sign Up

’s market cap earlier in June. For its part, shares of

This is the hidden content, please

• Sign In
• or
• Sign Up

have surged nearly 21% in 2024 and has similarly benefited from its own AI tailwind and the rollout of Copilot . But shares of the world’s most valuable company may be showing signs of exhaustion and could be poised for a pullback, as the stock is once again among Wall Street’s most overbought stocks. CNBC Pro screened the S & P 500 for overbought names, based on their 14-day relative strength index. An RSI above 70 indicates overbought conditions for a stock, which could signal a downturn in the near term. A reading below 30 typically signals that a stock is oversold and could be due for gains. Shares of

This is the hidden content, please

• Sign In
• or
• Sign Up

registered a 14-day RSI reading of 74. The company made headlines in recent days after the ********* Union accused the tech behemoth of breaching antitrust regulations when it bundled Teams and

This is the hidden content, please

• Sign In
• or
• Sign Up

365. The tech giant is up more than 9% this month and 20% in 2024. MSFT YTD mountain MSFT YTD Shares of Eli Lilly are also overbought, with a 14-day RSI of 83, putting the ***** manufacturer at the top of the list. The stock has climbed nearly 57% in 2024. A large portion of Eli Lilly’s rise in the first half of 2024 is thanks to the prominence of GLP-1 drugs , which emerged as a trend of its own for investors to pile into outside of the AI ***** over the past year. The prominence of its Alzheimer’s and diabetes drugs have helped the company become the most valuable healthcare company globally. FedEx is also overbought, with a 14-day RSI of 77. Shares have added about 19% in 2024. The company recently surpassed Wall Street’s estimates in the fourth-quarter on the top and bottom line, thanks to cost cutting efforts that are helping keep capital expenditures low. To be sure, some stocks have entered oversold territory — which means the could be due for a rebound. Among the oversold names, Walgreens Boots Alliance , Waters Corporation and Pool Corp top the list with 14-day RSI readings of 20 and 22. Walgreens has faced pressure this week, after the company’s fiscal third-quarter earnings missed Wall Street estimates. Walgreens executives noted a “challenging” macroeconomic environment apparent in its pharmacies and among consumers more generally that pushed the firm to trim down its full-year profit forecast. Analysts are tepid on the stock, with 62% of those polled by FactSet rating it a hold. To be sure, the average price target implies more than 43% upside ahead. Shares have pulled back more than 52% in 2024.

This is the hidden content, please

• Sign In
• or
• Sign Up

Investment strategy,Markets,Eli Lilly and Co,FedEx Corp,Walgreens Boots Alliance Inc,Waters Corp,Pool Corp,

This is the hidden content, please

• Sign In
• or
• Sign Up

Corp,S&P 500 Index,Dow Jones Industrial Average,NASDAQ Composite,business news
#

This is the hidden content, please

• Sign In
• or
• Sign Up

#Eli #Lilly #among #overbought #stocks #ends

This is the hidden content, please

• Sign In
• or
• Sign Up

For verified travel tips and real support, visit: https://hopzone.eu/