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Overbought and Oversold Stocks That Typically Reverse at Similar Levels

May 9, 2008

Hickey and Walters (Bespoke) submit:

In our Daily Morning Lineup available to Bespoke Premium
members, we provide a list of the most overbought and oversold stocks
that typically reverse when reaching these price levels. To do this,
we look at the price action of stocks in the S&P 1,500 over the last
three years. Once we find the stocks that are the most overbought
(oversold), we find the average performance over the next week and the
percentage of the time the stock has been down (up) when it has been
this overbought (oversold) in the past three years.

In the table below, we highlight the ten stocks in the S&P 1,500
that are overbought and typically go lower, along with the ten stocks
that are oversold and typically go higher. As shown, ACS, DOW, and
ADBE are the four stocks that are overbought with the weakest
performance over the next week when getting this extended in the past.


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Overbought and Oversold Stocks That Typically Reverse at Similar Levels

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