With weeks of relentless selling finally starting to break in the market, we searched for stocks that may be overdue for a short-term pop. Traders typically find stocks that may be "oversold" by looking at their current price versus the average price of the last 200 days. Using that metric, CNBC PRO screened for the names that are the most beaten up in the S & P 500 and then added a few other criteria to find possible pop candidates for a trade. Along with being deeply oversold, the shares in our search also have high short interest relative to their shares available for trading. If hedge funds have sizable bets against the shares, these stocks could be ripe for a short squeeze if the shares turn higher and the funds are forced to buy back the stock to cut their losses. We also looked for stocks where Wall Street analysts believe there is sizable upside based on the prospective return to their consensus price target. Here are the stocks that floated up on our screen: Source: FactSet To be sure, this list doesn't necessarily show good long-term buys. If the market resumes its slide, these stocks could again be hit hard. This is just an exercise to find possible short-term pop candidates by looking at it as traders typically do. The list is filled with broken travel and leisure names that have been hit this year by a confluence of concerns including a possible recession, rising fuel costs and the war in Ukraine. These stocks include Caesars , Carnival and Norwegian Cruise Line . Retail-related shares are also well represented on the list with the sector taking big hits this month after warnings from the likes of Walmart and Target about rising costs and bloated inventories hitting margins. Our list turned up Best Buy , Bath & Body Works and Under Armour among such names. With one trading day left this week, the Dow Jones Industrial average is on pace to snap an 8-week losing streak. After briefly falling into a bear market one week ago, the S & P 500 has snapped back by 4% this week. However, the S & P 500 still remains 15% off the all-time high it reached in early January.
