economy
Meta is among the most oversold stocks after another losing week on Wall Street
The market downturn put some stocks across the consumer discretionary, industrials and technology sectors into oversold territory.
TL;DR
- Stock indexes fell Friday due to energy supply concerns and Strait of Hormuz travel restrictions.
- The market downturn pushed some consumer discretionary, industrials, and technology stocks into oversold territory.
- Meta is among the most oversold stocks, having lost two court cases and shedding staff, with an RSI of 22.1.
- Energy stocks dominated the overbought list, with APA leading, due to supply chain disruptions from the Iran conflict impacting oil prices.
- A stock is oversold when its relative strength index (RSI) is below 30, and overbought when its RSI is greater than 70.