Oversold stocks may present a buying opportunity, while overbought stocks could be due for a pullback. Stocks on the screen span tech, banking and health care.
It's certainly been a volatile time for markets. A rough August ended with a bounce on Wall Street last week, although stocks finished Tuesday in the red . Global stocks, too, were bumpy last month: The MSCI World index fell in the middle of the month before paring some losses toward the end. The relative strength index , which measures the magnitude and speed of price moves, can be used by investors to determine if shares are overbought or oversold.
Pro screened the MSCI World index for major global stocks that are among the most overbought and oversold, based on their 14-day RSI. These stocks also have a market value of more than $10 billion. Oversold names These names are among the most oversold global stocks, spanning health care, autos and banking. The most oversold name on the list was Dutch payments company Adyen , with a RSI of 5.3 and a buy rating below 50%.
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