Below is a list of the 30 S&P 500 stocks that are currently trading the farthest above their 50-day moving averages. For each stock, we also include our trading range screen which shows how overbought/oversold the stock is in relation to its 50-DMA in standard deviations. As shown, NetApp (NTAP) is the farthest above its 50-DMA in the S&P 500 at +16.05%, but it’s just barely into overbought territory because it’s normally a relatively volatile stock. E*Trade (ETFC) is 10% above its 50-DMA, but it’s more than two standard deviations above its 50-day. Other notables on the list include Apple (AAPL), Tiffany (TIF), NVIDIA (NVDA), Morgan Stanley (MS), and Wynn Resorts (WYNN).
Traders can use this screen to identify upside momentum names and also names that may be due for a pullback. In the trading range screen, the dot represents where the stock is currently trading within its range, while the tail end represents where it was trading one week ago. Stocks that are extended to the upside but down over the last week are names to target for additional “mean reversion.”
On the flip side, below is a list of the 30 S&P 500 stocks trading the farthest below their 50-day moving averages. If you’re looking for names that may be due for mean reversion to the upside, this is a good place to start. Stocks that are oversold but up over the last week may have already hit bottom and begun their ascent. Most of the stocks below fit this criteria (dot is to the right of the tail).
Diamond Offshore (DO) is currently the farthest below its 50-DMA in the S&P 500 at -24.79%. Tractor Supply (TSCO) ranks second at -20.24%, followed by First Solar (FSLR) at -18.27%. Other notables on the list include Viacom (VIAB), Bristol-Myers (BMY), Hershey (HSY), Coach (COH), Vulcan Materials (VMC), and Campbell Soup (CPB).