Below is an updated snapshot of our trading range screen ran on the 30 largest stocks in the Nasdaq 100. The list is sorted by market cap as of the end of Q2, and we’ve highlighted the much-hyped “FAANG” names in yellow. In the trading range section, the “OB” stands for “overbought,” and it happens when a stock trades more than 1 standard deviation above its 50-day moving average (the red zone). The “OS” stands for “oversold,” and that’s when the stock trades more than 1 standard deviation below the 50-day. “N” stands for “neutral,” which means the stock is trading between one standard deviation above and below its 50-day. The black vertical “N” line in the screen represents each stock’s 50-day moving average.
Of the thirty largest Nasdaq 100 stocks, eleven are currently trading in overbought territory, while just two are oversold (GOOGL and SBUX). Apple (AAPL), Comcast (CMCSA) and Charter (CHTR) are the most overbought names in the screen entering Tuesday’s trading day.
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