economy
These are the most overbought stocks after a volatile week
Hewlett Packard Enterprise was among this week's most overbought stocks.
TL;DR
- Hewlett Packard Enterprise (HPE) is one of the most overbought stocks after a 14% weekly gain, driven by strong cloud and AI revenue.
- HPE reported an adjusted 79 cents per share on $10.68 billion in revenue, beating analyst expectations.
- Loop Capital upgraded HPE to a buy rating with a price forecast implying 52% upside.
- Fortinet, a cybersecurity stock, finished the week with a 76 RSI, experiencing volatility after peer earnings reports.
- Host Hotels and Resorts and Humana were also among the most overbought stocks with RSIs of 79 and 77, respectively.
- A stock with a 14-day RSI above 70 is considered overbought, potentially indicating a future pullback.