12 of the most-overbought stocks
The list shows confidence in the consumer. Homebuilders also get some love.
The latest numbers show that 305 stocks in the S&P 500 are oversold, while only 25 are overbought, according to Bespoke Investment Group. (In this case, oversold and overbought mean stocks that are more than one standard deviation from their 50-day moving averages.)
Bespoke looked for trends among the 25 overbought stocks, the ones that have risen too far too fast and are in danger of crashing. They found many consumer plays, showing the market is feeling much better about the consumer compared with a year ago.
Another hot area is the homebuilding sector, which just a year ago was at the heart of the bear market, according to Bespoke.
Here are 12 of the top overbought stocks, their industries and their trading prices on Tuesday:
Airgas (ARG) -- Industrial Gas -- $60.88
Hasbro (HAS) -- Toys -- $34.89
Lexmark (LXK) -- Computer storage -- $33.16
Tyson Foods (TSN) -- Meat and packaged food -- $15.39
AON Corp (AON) -- Insurance broker -- $39.74
Estee Lauder (EL) -- Personal products -- $56.11
Burlington Northern (BNI) -- Railroads -- $99.81
DR Horton (DHI) -- Homebuilder -- $12.88
Eastman Kodak (EK) -- Photo products -- $5.91
Sara Lee (SLE) -- Packaged Foods -- $12.68
Darden Restaurants (DRI) -- Restaurants -- $38.27
Family Dollar Stores (FDO) -- Discount retail -- $31.75
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Serious issues like drought and the deterioration of the developed world spell opportunity for this industry leader.
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