As the S&P 500 continues to rally off of its Christmas Eve low, many stocks have extended well past their 50-day moving averages. Below is a list of the 30 S&P 500 stocks that are trading the furthest above their 50-DMAs. At the top of the list is Coty (COTY) which currently sits 44.18% above its 50-DMA. Before reporting earnings on February 8th, the stock actually sat just below its moving average, but a strong report rocketed the stock well above its 50 and 200-day. While no other stocks are quite as overextended as COTY, there are currently nine that sit more than 20% above their 50-DMAs. Many of these saw a strong Q4 earnings report, like Xilinx (XLNX) which reported a triple play and gapped up 9.55% in reaction to the news. Other notables on the list of most extended stocks include Chipotle (CMG), Electronic Arts (EA), Advanced Micro (AMD), Boeing (BA), Netflix (NFLX), and General Electric (GE).
While these stocks have performed unbelievably lately, they are now reaching extremely overbought levels as shown through our popular Trend Analyzer tool. A couple like COTY and ANET have extended so far above their 50-DMAs that they are basically off the chart. As a result of these readings, many of these stocks have poor timing ratings as they are increasingly overdue for some downside mean reversion.
At the other end of the spectrum, below we show the 30 S&P 500 stocks that are furthest below their 50-DMAs. Newell Brands (NWL) is the leader of the group at 16.31% below. NWL plummeted over 9% on Friday after lowering guidance, whereas before reporting it comfortably sat above its 50-DMA. It has continued to decline today. The next stock that is far below its 50-DMA is Take-Two Interactive (TTWO) which also saw a sour response to earnings a couple weeks ago. This stock is another that actually sat above its 50-DMA before its earnings report was released. A similar name, Activision Blizzard (ATVI), joins TTWO on this list despite their peer EA being one of the most elevated stocks.
Note that there is just one stock in the S&P 500 that is more than 10% below its 50-day, while there are 30+ that are more than 15% above their 50-days!