Wall Street began the trading week on a negative note, with major market indices showing a decline as selling pressure quickly emerged, following last week’s downturn. Despite the broader market retreating, certain individual stocks have continued to rise, pushing them into overbought territory, as indicated by their Relative Strength Index technical indicator.

This raises an important question: Are these moves into overbought conditions a signal of potential exhaustion, suggesting the possibility of short-term pullbacks, or do these stocks still have room to run? 

Seeking Alpha has identified the top ten most overbought stocks, providing valuable insights into potential market corrections. With these stocks showing RSI levels above 70 in a generally bearish market, investors may want to keep a close eye on potential price tops and consider the risk of further declines. Screened names include U.S. stocks with market caps north of $10B. List is ranked by RSI. 

No. 10: Amgen (AMGN), RSI of 74.

No. 9: Brown & Brown (BRO), RSI of 74.

No. 8: American Water Works Company (AWK), RSI of 76.

No. 7: LKQ Corporation (LKQ), RSI of 76.

No. 6: Expeditors International of Washington (EXPD), RSI of 76.

No. 5: AbbVie (ABBV), RSI of 76.

No. 4: Verizon Communications (VZ), RSI of 77. 

No. 3: Gilead Sciences (GILD), RSI of 78.

No. 2: Yum! Brands (YUM), RSI of 79. 

No. 1: Intra-Cellular Therapies (ITCI), RSI of 85.