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The S&P 500 finished last week at its highest close since early January. So which stocks could lead the market higher this week?
Using Kensho, a quantitative analytics tool used by hedge funds, we ran a screen to search for the most oversold and overbought stocks in the S&P 500 relative to their 50-day moving averages. We looked for the stocks that historically have had the biggest future five-day returns after reaching such an oversold state, and conversely, the overbought names that have the lowest five-day returns.
These are the oversold stocks according to Kensho and their five-day average move when they traded this far below their 50-day moving average in the past.