2 Holdings That Are Oversold, 2 Market Indexes That Are Not
Let's look at the RSI levels of two tech giants and what the levels of two key indexes could portend.
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As we note the oversold nature of Meta (META) shares, we will also call out a few others in the Pro Portfolio that have found their way into that same condition:
Google (GOOGL) with an RSI of 26.37.
Microsoft (MSFT) and the current RSI near 23.40, down from 27.60 earlier this week.
Looking at the RSI levels for the S&P 500 and Nasdaq Composite, neither are yet in an oversold condition but they are close with their respective RSIs of 30.52 and 31.73. Add in the Volatility Index (VIX) back over 29, and any hint of positive headlines regarding the U.S.-Iran conflict and the Strait of Hormuz could fuel a market bounce.
However, with Trump’s extended deadline of April 6 the odds of any game-changing developments are likely at least several days away. Rest assured we’ll keep our eyes and ears open watching for any sooner shifts in the landscape.
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At the time of publication, TheStreet Pro Portfolio was long META, GOOGL and MSFT.
