We computed the relative strength values of all companies in the S&p500 for three time frames, short (daily), medium (weekly), and long (monthly).
The average RSI7s are remarkably similar:
- short term: 61.42
- medium term: 64.63
- long term: 62.84
- short term: 16; most oversold is NBR (15.78)
- medium term: 5, most oversold is BSX (23.25)
- long term: 1, most oversold is AIG (27.85)
- short term: 164 (!); most overbought is LMT (94.67)
- medium term: 178 (!), most overbought is EFX (93.42)
- long term: 146, most overbought is MJN (92.39)
Clearly there are too many overbought companies. In aggregate, there are 22.1 overbought companies for every oversold company. In the long term they are 146:1, the lonely one there is AIG, which is overbought in the short term. Amazing!
Here are the top 30 oversold companies, sorted by our favorite RSIA, in descending order:
There are 147 companies oversold by RSIA.
Disclaimer: The author does not own any of the mentioned stocks.