The
stock
market
may
have
ended
November
with
a
bang,
but
that
doesn’t
mean
there
are
no
more
buying
opportunities
left
for
investors.
On
Thursday,
the
Dow
Jones
Industrial
Average
gained
520
points,
or
1.47%,
to
notch
a
new
high
for
2023.
The
30-stock
index
surged
8.8%
in
November,
closing
out
its
best
month
since
October
2022.
Similarly,
the
S
&
P
500
and
Nasdaq
Composite
each
respectively
added
8.9%
and
10.7%
for
their
best
monthly
performances
since
July
2022.
But
investors
who
feel
they
might
have
missed
the
bandwagon
need
not
worry.
Some
stocks
may
have
become
overbought
as
investors
chased
returns.
On
the
flip
side,
some
oversold
names
could
be
due
for
some
near-term
gains.
CNBC
Pro
used
FactSet
data
to
find
the
most
overbought
and
oversold
names
in
the
S
&
P
500
based
on
their
14-day
relative
strength
index,
or
RSI.
A
14-day
RSI
reading
above
70
typically
indicates
that
a
stock
is
overbought
and
could
face
a
pullback.
On
the
other
hand,
a
stock
with
a
14-day
RSI
reading
below
30
could
be
oversold,
presenting
investors
with
a
buying
opportunity.
Here
are
some
of
the
most
overbought
names:
Equifax
was
the
most
overbought
name
on
the
list,
with
a
14-day
RSI
reading
of
97.13.
About
46%
of
analysts
covering
the
credit
reporting
agency
rate
it
a
buy,
and
consensus
price
targets
suggest
downside
of
4%
from
here,
according
to
FactSet.
Shares
are
up
14%
in
2023.
Back
in
October,
Stifel
highlighted
mortgage
trends
as
a
likely
headwind
for
Equifax
in
2024.
Analyst
Shlomo
Rosenbaum
cut
his
price
target
to
$208
from
$231
but
rates
the
stock
a
buy.
“Ultimately,
we
think
the
mortgage
headwinds
are
likely
to
bottom
in
2H24,
though
increased
pricing
in
early
January
2024
should
offset
some
of
the
mortgage
volume
headwinds,”
the
analyst
said.
Take-Two
Interactive
Software
was
the
next
name
on
the
list,
with
an
RSI
reading
of
95.62.
About
65%
of
analysts
covering
the
video
game
company
currently
rate
it
a
buy,
with
consensus
price
targets
suggesting
upside
of
nearly
4%.
The
stock
is
having
a
hot
year,
up
52%
in
2023.
In
November,
Wedbush
analyst
Nick
McKay
highlighted
Take-Two’s
“solid
Q2:24
results,”
but
pointed
to
uncertainty
around
the
release
date
for
Grand
Theft
Auto
VI.
“We
are
reluctant
to
include
the
game
in
our
model
for
FY:25,”
McKay
wrote.
Other
overbought
names
on
the
list
include
BlackRock
and
Northern
Trust
.
Also
included
was
DexCom
,
which
surged
30%
in
November.
On
the
oversold
side,
CNBC
Pro
found
10
names
with
the
lowest
RSI
readings.
Stocks
that
are
oversold
include
Cigna
,
which
has
a
14-day
RSI
of
20.49.
Just
under
half
of
analysts
rate
the
stock
at
a
buy
and
call
for
an
average
potential
upside
of
33%.
Shares
of
the
insurance
giant
slid
8%
Wednesday,
after
The
Wall
Street
Journal,
citing
people
familiar,
reported
that
Cigna
was
planning
a
merger
with
Humana
.
Cigna
is
off
18%
in
2023.
Next
on
the
list
was
food
processing
company
Hormel
Foods
,
with
an
RSI
of
25.73.
Although
none
of
the
analysts
covering
the
stock
rate
it
a
buy,
they
still
see
an
average
6%
upside
from
here.
Shares
of
Hormel
pulled
back
6%
in
November
after
the
company
posted
quarterly
earnings
that
disappointed
analysts.
Shares
are
down
more
than
30%
in
2023.
Other
names
on
the
list
included
Cisco
and
Wynn
Resorts
.
—
CNBC’s
Fred
Imbert
contributed
to
this
report.
