After plunging 26% this year, shares of electric vehicle maker Tesla could bounce back, at least according to one popular metric. Stocks are posting tepid gains this week even after experiencing a sell-off on Wednesday — when Federal Reserve Chairman Jerome Powell said he likely does not see interest rates being cut in March. Week-to-date, the S & P 500 is now higher by 1% along with the Dow Jones Industrial Average . The tech-heavy Nasdaq Composite up 0.8% this week. That said, there are some beaten-down names that may be due for a rebound. Using the CNBC Pro Stock Screener tool, we screened for the most overbought and oversold names in the S & P 500 based on their 14-day relative strength index, or RSI. Stocks with a 14-day RSI greater than 70 are considered overbought, meaning they could be at risk of a pullback. A high RSI is often associated with investors getting too upbeat about a stock’s near-term performance. Conversely, stocks with a reading lower than 30 typically means that they’re oversold and possibly gearing up for a short-term bounce. A low RSI typically indicates poor sentiment around a stock. Here are some of the most oversold names: Tesla , which saw its stock more than double in 2023 on strong delivery numbers and revenue from its automotive and energy divisions, is now struggling to sustain momentum. The EV company has cut prices and warned of “notably lower” vehicle volume growth this year, and during the fourth quarter, it lost its place as the top global EV seller to China’s BYD. Analysts have a consensus hold rating on Tesla, which has a 14-day RSI rating of 24.6. They anticipate about 14.5% potential upside for the company, which would signify a sharp reversal from its roughly 26.5% loss so far this year. Transportation and logistics company C.H. Robinson Worldwide also made is one of the most oversold companies in the S & P 500, scoring a 14-day RSI of 20.7. Shares of Minnesota-based C.H. Robinson are down 14.9% so far this year, and have lost more than 23% over the past 12 months. This week was rough for the stock, which fell after the company on Wednesday reported a sharp decline in its fourth-quarter profit amid a “poor demand and pricing environment” with weak levels of freight demand. Analysts, which on average have a hold rating on the stock, have an average price target that suggests shares could gain 10.3% from Thursday’s close. Energy tech services provider Baker Hughes was one of the few oversold names that analysts have a buy rating on, according to CNBC’s screen. Shares have fallen 15% since the start of the year, but analysts think the stock could jump about 42% over the next 12 months—the highest expected upside of the list. On Jan. 23, Baker Hughes beat earnings expectations for the fourth quarter but posted slightly disappointing revenue numbers for the period. The company’s 2024 guidance reflects strong EBITDA in the mid-teens range with slightly higher margins, according to FactSet. Other oversold names include United Parcel Service and International Paper Company . There are also some names that could be due for a pullback. The following stocks are the most overbought in the S & P 500: Pharma giant Merck and Facebook parent Meta Platforms are among the most overbought stocks in the broad-based index, with each company having an RSI of about 86. Analysts have consensus buy ratings on both stocks. On average, however, analysts think Meta’s stock price could fall about 16% from its latest close and their forecasted price target suggests Merck could gain just 0.7%. Meta’s stock price is up more than 34% so far this year, gaining more than 20% on Friday alone after the company announced its first-ever dividend and a tripling of its fourth-quarter profits. Given that shares of the big tech company also popped more than 175% in 2023, analysts think the stock could be due for a pullback. Merck shares have jumped more than 19% over the past 12 months. On Thursday, the company surprised analysts with stronger-than-expected fourth-quarter revenue and adjusted earnings, driven by strong sales from its Merck’s cancer drug Keytruda and HPV vaccine Gardasil. Of the overbought names, Boston Scientific has the highest potential upside according to analysts surveyed by LSEG, at about 9.3%. The medtech company, which has a consensus buy rating, has a 14-day RSI of 80.6. Payments giant Mastercard and insurance company Progressive are also among the most overbought companies in the S & P 500. Mastercard told CNBC on Thursday that it’s launching a new generative artificial intelligence model, Decision Intelligence Pro, which will allow banks to better detect and root out fraudulent transactions on its network in real-time. 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