The S&P 500 just logged another losing week, yet these stocks could be due for a bounce
Another losing week has dragged certain individual stocks to levels where they might find some support. The S & P 500 closed 0.1% lower for the week, marking its second consecutive weekly decline, while the Dow Jones Industrial Average declined 1.7% during the same period. The moves came amid a whirlwind week for the overall market. Earlier in the week, stocks fell as global bond yields rose, with the yield on the 10-year Treasury hitting its highest level in 19 years . That sell-off deepened after the U.S. Federal Reserve hiked its benchmark rate by 25 basis points on Wednesday, although some investors looked past the shift to tighter monetary conditions. This week’s declines left several stocks were in oversold territory. A stock qualifies as oversold when its relative strength index (RSI) is less than 30, signaling the move lower may have gone too far and the stock is due for a bounce. Oversold Boeing made the list with an RSI of 25. Shares slipped more than 5% after CEO Kelly Ortberg warned that production of the company’s 737 Max was taking longer than expected to stabilize . Year to date, the stock is down around 9%. Bank of America also tumbled into oversold territory, with its RSI reaching 28. Shares slid 8% this week after Chief Executive Brian Moynihan said investment banking fees for the third quarter are expected to fall more than 10%. Wynn Resorts is the most oversold stock this week with a RSI of 17.Shares fell more than 5% during the week to a new 52-week low just north of $81. The stock has shed roughly 31% in 2026. Las Vegas Sands , Carrier Global and TransDigm were also oversold. Overbought Conversely, a few energy stocks such as Marathon Petroleum treaded into overbought territory. A stock is overbought if it has a relative strength index (RSI) greater than 70, which implies it is poised for a near-term decline. Marathon Petroleum has a RSI of 87, putting it at the top of this week’s list of overbought stocks. Shares rose more than 7% this week, hitting a record high of $428. The rally came as oil prices trended higher at the start of the week after Saudi Arabia closed its East-West pipeline due to a drone attack that threatened it. The stock has jumped 161% year to date as the Iran war has broadly pushed up global energy prices. Other energy firms such as Valero Energy and Phillips 66 also made the overbought list.
