Even as stocks rose across the board this week, investors disproportionately flocked to stocks like Deere and Quanta Services. Major averages rose this week after the Supreme Court struck down President Donald Trump’s emergency tariffs. During Friday’s trading session, a sense of relief after disappointing economic data released earlier in the day pushed stocks higher. CNBC Pro used a stock screening tool to identify stocks that could be headed lower or higher based on their 14-day Relative Strength Index (RSI). A stock with a 14-day RSI above 70 is considered overbought and a decline may be imminent. On the other hand, a reading below 30 indicates that the stock is oversold and could bounce back soon. The following table lists overbought stocks. One name that made the list was agricultural machinery maker Deere, with an RSI of 78. The stock rose almost 10% over the week. Shares rose nearly 12% on Thursday alone after Deere announced an increase in its full-year net profit outlook. The company also reported profit and sales growth for the fiscal first quarter. Following the company’s quarterly report, Morgan Stanley reiterated its Overweight rating on the stock. Analyst Angel Castillo’s $560 price target suggests a 15% downside. “While final performance will preclude comment on NA Large Commodities trends, we expect a positive stock reaction to the solid beat and raise,” Castillo wrote. Meanwhile, Jefferies’ Steven Volkman maintained his firm’s investment decision and supported his $475 price target, suggesting the stock could fall 28% from here. Another most overbought stock this week was infrastructure services provider Quanta Services, which rose more than 5% for the week. The stock has an RSI of 73. Still, investors remained bullish on the stock after the company’s fourth-quarter earnings beat. Quanta Services’ full-year profit also exceeded analysts’ expectations, according to FactSet. On Friday, Bank of America analyst Sherif El Sabahy maintained a Buy rating and raised his price target to $610 from $500, suggesting a 10% upside. Meanwhile, stocks in oversold territory this week include Blackstone and Apollo Global Management. Blackstone made the list with an RSI of 27. The stock has fallen more than 6% this week. Fellow asset manager Apollo Global Management had an RSI of around 28, posting a loss of more than 4% for the week.
