Nvidia and other stocks just became the most overbought names on Wall Street this week

CNBC

19-07-2025

Some stocks that have seen meaningful gains in recent days could be set to change course, a technical indicator shows. The S & P 500 ended Friday little changed , weighed down by trade policy concerns among investors after President Donald Trump reportedly called for more tariffs on the European Union. However, the broad market index posted a weekly gain of 0.6% as optimistic economic data and the latest slew of earnings results from names like Goldman Sachs and PepsiCo pushed the benchmark into the green for the period. CNBC Pro used its stock screener tool to identify the most overbought and oversold stocks this past week by measuring their 14-day relative strength index, or RSI. An RSI reading above 70 can suggest that a stock may be overbought and be poised for a downturn in the near term. On the flip side, an RSI below 30 could mean that a stock is oversold and be due for upside. Artificial intelligence darling Nvidia was one of the overbought names on Wall Street in the last week, recording an RSI of 80. Shares reached a new 52-week high Friday and posted a week-to-date gain of more than 4%. Most of that weekly gain came from the stock's performance on Tuesday, when it rose around 4% on the heels of the company saying that it plans to resume deliveries of its H20 general processing units to China "soon." Citigroup rounded out the overbought names this past week, with a 78.1 RSI. That stock gained nearly 8% over the week and has moved more than 47% higher in the last three months. On Tuesday, the firm's second-quarter results topped the Street's expectations on the top and bottom lines, and its net income grew 25% compared to the year-ago period. During a call with analysts, CEO Jane Fraser said that "volatility is going to, I suspect, be a feature not a bug of the new world order, and we will benefit from that." Lab equipment maker Waters Corp was among this week's oversold names, having an RSI of 26.2 and seeing a week-to-date plunge of more than 18%. That adds to its sizable losses in recent months, as the stock has fallen nearly 29% in the last six. Shares kicked off the week with a drop of almost 14% on Monday after the company said that it's going to buy a bioscience and diagnostics unit that was spun off from medical technology company Becton Dickinson for $17.5 billion. The deal is expected to close toward the end of the first quarter of 2026 . Animal health company Zoetis , which had an RSI of 27.7, was also an oversold name. The stock fell more than 4% over the week. Earlier this week, Leerink Partners downgraded Zoetis to market perform from outperform due to worries over the company's long-term growth trajectory. That's based on "rising competition in legacy categories" and a launch of its osteoarthritis treatment known as Librela that "appears to have lost momentum." Most analysts covering Zoetis are still bullish on it, however, as 14 out of 20 analysts have a strong buy or buy rating, per LSEG. The remaining six are neutral with a hold rating.