Wall Street’s most overbought stocks this week include a precious metals company and several companies involved in building artificial intelligence infrastructure. U.S. stocks have been volatile this week as geopolitical developments continue. The S&P 500 ended the week in the red, although stocks rose on Wednesday and Thursday after President Donald Trump withdrew his threat to impose new tariffs on a number of European countries. Despite the weakness at index levels, some individual stocks may be overheated. CNBC Pro used a stock screening tool to identify the most overbought stocks on the market this week and beyond, as measured by the 14-day relative strength index (RSI). A stock with a 14-day RSI above 70 is generally considered overbought, indicating that a pullback may be imminent. A number below 30 indicates that the stock is oversold and may rebound in the short term. The following table shows some of this week’s overbought stocks. Gold miner Newmont topped the list with a 14-day RSI of 82.3. Stocks rose more than 8% this week as gold prices soared on the back of geopolitical unrest and expectations for further U.S. interest rate cuts. Spot gold prices hit a new all-time high on Friday, approaching $5,000 an ounce. Memory products makers SanDisk and Micron also entered the overbought group, rising 16.6% and 10.7%, respectively, this week. SanDisk’s explosive performance came after S3 Partners’ research team on Thursday warned of rising short-selling risks in the stock. The stock has already doubled this year and is up more than 1,200% over the past year as demand for AI memory products far exceeds supply. The stock has an RSI of 78.4, but is still favored by the market considering the consensus Buy rating from analysts covered by LSEG. Another popular AI stock, chipmaker Advanced Micro Devices, is considered overbought with an RSI of 76.9 after a nine-day winning streak. AMD stock rose more than 11.5% this week. There are only three names that are technically considered oversold. Netflix’s business sentiment this week comes after the company reported fourth-quarter results on Tuesday that narrowly beat analysts’ expectations. Despite Friday’s gains, Netflix stock is down 2.8% this week. The media giant’s RSI is around 26, indicating a possible rebound.
