Here's Where All of Our Holdings' RSI Levels Stand as Market Turmoil Persists
We're reviewing relative strength index (RSI) levels for every Portfolio holding as upcoming events can further rattle the market.
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When we trimmed back the Portfolio’s exposure to Waste Management WM shares earlier on Tuesday, we shared they were overbought with Monday night’s market close that registered a relative strength index (RSI) level of 73.29.
Given our cautionary comments in today’s Daily Rundown, we are sharing RSI levels for the rest of the Portfolio’s holdings, noting which ones are oversold (RSI <30), and which ones are approaching that point.
When reviewing these levels, let’s remember a few things.
Much like stock prices, RSI levels can move day to day, so don’t expect them to remain fixed in stone. Also, just because a stock is oversold doesn’t mean a snapback is immediate and it can take some time. That also means we will want to heed the RSI levels for the S&P 500 and Nasdaq Composite as well as their respective technical support levels and MACD trends.
For the S&P 500, that means keep watch on its 200-day moving average near 5,725, but we’ve already seen the Nasdaq Composite move below its 200-day moving average near 18,376. Looking back at August 2024, that proved to be a nice pickup point. However, as discussed earlier today we have several upcoming events that have the potential to further rattle the market. That will have us watching movement in the Cboe Volatility Index (VIX) closely as well.
Positions in the Portfolio With RSI Below 30 (Oversold)
Amazon AMZN – 28.36
Eaton ETN – 28.38
ServiceNow NOW – 28.60
United Rentals URI – 25.06
Vulcan Materials VMC – 23.49
Positions in the Portfolio With RSI Approaching 30
Alphabet GOOGL – 34.51
American Express AXP – 30.40
Applied Materials AMAT – 33.11
Marvell MRVL – 35.47
Microsoft MSFT – 31.14
Morgan Stanley MS – 31.69
Qualcomm QCOM – 33.78
VanEck Uranium & Nuclear ETF NLR – 31.07
RSI Levels for Other Portfolio Positions
Apple AAPL – 49.48
Axon Enterprises AXON – 36.40
Bank of America BAC – 35.13
Costco COST – 53.58
Dutch Bros BROS – 49.94
Elastic ESTC – 46.07
First Trust Nasdaq Cybersecurity ETF CIBR – 39.93
Labcorp LH – 68.10
Lockheed Martin LMT – 54.36
Mastercard MA – 49.62
Meta Platforms META – 36.06
Nvidia NVDA – 38.30
Universal Display OLED - 48.33
Waste Management WM – 66.16
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At the time of publication, TheStreet Pro Portfolio was long WM, AMZN, ETN, NOW, URI, VMC, GOOGL, AXP, AMAT, MRVL, MSFT, MS, QCOM, NLR, AAPL, AXON, BAC, COST, BROS, ESTC, CIBR, LH, LMT, MA, META, NVDA and OLED.
