Last week, the S&P 500 posted its worst loss since Feb. 5, falling more than 1 percent. Which stocks could lead a rebound in the benchmark?
Using Kensho, a quantitative analytics tool, we ran a screen to find the stocks with the best statistical setup for success — or failure — from here. We did this by finding "oversold" stocks due for a pop because they are trading unusually lower than their 50-day moving average. Conversely, we found "overbought" stocks ready for a drop because they are trading far above normal levels relative to their 50-day moving average.
First, here are the oversold stocks. The table below shows the S&P 500 stocks with the best chances to move higher over the next few days based on their history of trading at similarly oversold levels. The first column is the number of standard deviations the stock is below its 50-day moving average. The second column is the stock's track record over the next few days after falling into this oversold range in the past.