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Pro Analysis

Stats show these Brexit casualties due for bounce

Traders from BGC, a global brokerage company in London's Canary Wharf financial centre react as European stock markets open early June 24, 2016 after Britain voted to leave the European Union in the EU BREXIT referendum.
Russell Boyce | Reuters
Traders from BGC, a global brokerage company in London's Canary Wharf financial centre react as European stock markets open early June 24, 2016 after Britain voted to leave the European Union in the EU BREXIT referendum.

The panic sell-off that ensued after the surprising Brexit vote last week placed a number of U.S. stocks in oversold territory, providing a potential buying opportunity using statistics-based methods of trading.

According to Kensho, a quantitative tool used by hedge funds, the following stocks, ETFs and currencies are trading significantly below their average price of the last 50 days and have high odds of snapping back based on their history of trading in a similar oversold condition. We also ran screens on overbought securities heading into this week.