The inventory market might have ended November with a bang, however that does not imply there are not any extra shopping for alternatives left for traders. On Thursday, the Dow Jones Industrial Common gained 520 factors, or 1.47%, to notch a brand new excessive for 2023. The 30-stock index surged 8.8% in November, closing out its finest month since October 2022. Equally, the S & P 500 and Nasdaq Composite every respectively added 8.9% and 10.7% for his or her finest month-to-month performances since July 2022. However traders who really feel they may have missed the bandwagon needn’t fear. Some shares might have change into overbought as traders chased returns. On the flip aspect, some oversold names may very well be due for some near-term positive factors. CNBC Professional used FactSet information to search out essentially the most overbought and oversold names within the S & P 500 based mostly on their 14-day relative power index, or RSI. A 14-day RSI studying above 70 usually signifies {that a} inventory is overbought and will face a pullback. Alternatively, a inventory with a 14-day RSI studying beneath 30 may very well be oversold, presenting traders with a shopping for alternative. Listed below are a few of the most overbought names: Equifax was essentially the most overbought identify on the record, with a 14-day RSI studying of 97.13. About 46% of analysts protecting the credit score reporting company price it a purchase, and consensus value targets counsel draw back of 4% from right here, in response to FactSet. Shares are up 14% in 2023. Again in October, Stifel highlighted mortgage developments as a possible headwind for Equifax in 2024. Analyst Shlomo Rosenbaum minimize his value goal to $208 from $231 however charges the inventory a purchase. “Ultimately, we think the mortgage headwinds are likely to bottom in 2H24, though increased pricing in early January 2024 should offset some of the mortgage volume headwinds,” the analyst mentioned. Take-Two Interactive Software program was the following identify on the record, with an RSI studying of 95.62. About 65% of analysts protecting the online game firm at present price it a purchase, with consensus value targets suggesting upside of almost 4%. The inventory is having a sizzling yr, up 52% in 2023. In November, Wedbush analyst Nick McKay highlighted Take-Two’s “solid Q2:24 results,” however pointed to uncertainty across the launch date for Grand Theft Auto VI. “We are reluctant to include the game in our model for FY:25,” McKay wrote. Different overbought names on the record embody BlackRock and Northern Belief . Additionally included was DexCom , which surged 30% in November. On the oversold aspect, CNBC Professional discovered 10 names with the bottom RSI readings. Shares which are oversold embody Cigna , which has a 14-day RSI of 20.49. Slightly below half of analysts price the inventory at a purchase and name for a median potential upside of 33%. Shares of the insurance coverage large slid 8% Wednesday, after The Wall Road Journal, citing folks acquainted, reported that Cigna was planning a merger with Humana . Cigna is off 18% in 2023. Subsequent on the record was meals processing firm Hormel Meals , with an RSI of 25.73. Though not one of the analysts protecting the inventory price it a purchase, they nonetheless see a median 6% upside from right here. Shares of Hormel pulled again 6% in November after the corporate posted quarterly earnings that disenchanted analysts. Shares are down greater than 30% in 2023. Different names on the record included Cisco and Wynn Resorts . — CNBC’s Fred Imbert contributed to this report.