Wall Street’s Nasdaq Composite (COMP:IND) and Nasdaq-100 Index (NDX) have come under pressure recently, as traders and investors have moved to de-risk portfolios over the past week, despite Wednesday’s move higher. This shift has driven several tech-focused names into oversold territory.
One notable example is Meta Platforms (META), which now sits in oversold territory based on the relative strength index. The stock has declined following its latest earnings release and currently trades 19.8% below its record high set on August 15.
Outlined below are the Nasdaq-100’s ten most oversold stocks:
No. 1: Automatic Data Processing (ADP), RSI of 19.87.
No. 2: Paychex (PAYX), RSI of 20.41.
No. 3: Linde Plc (LIN), RSI of 24.15.
No. 4: Mondelez International (MDLZ), RSI of 25.22.
No. 5: Charter Communications (CHTR), RSI of 25.55.
No. 6: T-Mobile US (TMUS), RSI of 26.17.
No. 7: Roper Technologies (ROP), RSI of 26.35.
No. 8: Costar Group (CSGP), RSI of 26.54.
No. 9: Meta Platforms (META), RSI of 27.69.
No. 10: Axon Enterprise (AXON), RSI of 29.73.
Nasdaq-100 and Nasdaq Composite ETFs: (QQQ), (QQQM), (QLD), (TQQQ), (QID), and (SQQQ).