This week, several big-name stocks have soared to levels that hint at a correction ahead. This week, three major indexes are set to end with notable gains, primarily centered on the last Fed of 2023. The moves came as investors cheered signals from the central bank that a rate cut was imminent. If this rally holds through Friday’s close, it will be the S&P 500’s seventh consecutive winning week, the first since 2017. This is the ninth consecutive positive week for the Dow, the first time since 2019. Investors bought up some stocks more than others during the bull market, and these stocks can experience a pullback after a spike. CNBC Pro used FactSet data to screen the most overbought and oversold stocks in the S&P 500 based on the 14-day Relative Strength Index (RSI). The relative strength index, which measures the magnitude and speed of price movements, is a common indicator used to assess whether a stock is overbought or oversold. Stocks with a 14-day RSI below 30 are considered oversold, suggesting they may be a promising entry point for investors, while stocks with a 14-day RSI above 70 are considered overbought. is considered a potential selling opportunity. Here are the most overbought stocks last week. Financial stocks Invesco and aircraft maker Boeing were the most overbought, with an RSI of 98. Invesco has risen 16% since Monday, putting it on pace for its biggest gain in the subsequent trading week. A significant portion of this week’s gains came from investment bank Keefe, Bruyette & Woods’ upgrade to above-market performance. “The company is well positioned on the back of improving markets and flows, trading at an 8x discount to 2025e EPS,” analyst Michael Brown said in a letter to clients on Wednesday. “Looking to 2024, we believe IVZ continues to be well-positioned to capture passive flows and that its potential on the fixed income side is undervalued.” However, this upgrade puts the company on the wall. I’ve fallen out of the majority of the city. Fewer than one in five analysts rate the stock a “buy,” according to FactSet, and the average price target suggests the stock will fall nearly 14% over the next year. Invesco stock is still down about 2% from a year ago. Meanwhile, Boeing is up about 8% this week. The company announced executive changes this week, with Stephanie Pope appointed as head of operations and Brian Moran as head of sustainability. If this rally is sustained through Friday’s close, it will be the seventh consecutive winning week. The stock price has soared more than 38% this year. Analysts are more optimistic about Boeing, with more than two in three rating it a “buy.” Still, the average analyst expects the stock to decline by almost 0.3% over the next 12 months, given the recent rally. FedEx, Royal Caribbean and Caterpillar were also among the most overbought stocks. Meanwhile, Arch Capital Group was the most oversold with an RSI below 17. That means the stock, which has fallen more than 7% this week, could rebound. Despite the tough week, the stock is up about 17% so far in 2023. More than 7 out of 10 analysts rate the stock as a buy, and the average price target reflects an upside of nearly 28%. Fellow financial stocks Everest Group and Arthur J. Gallagher were also among the most oversold stocks. Here is the complete list: At the bottom of the list, Starbucks is also considered oversold with his RSI at 27.5. Still, the stock is expected to end the week up almost 1%. Starbucks was able to end its historic losing streak last week as investors worried about the state of U.S. consumers and the company’s performance in China. The stock is down almost 2% at the end of 2023, extending losses from a more than 15% decline in 2022. Fewer than two in five analysts recommend the stock as a buy, according to FactSet. Still, the average price target suggests a rebound of nearly 18%, indicating a reprieve from years of decline. —CNBC’s Michael Bloom and Fred Imbert contributed to this report