Compass is a new entrant to the overbought list, as the stock gains ahead of earnings this week. We are now heading towards the 980p level that proved to be too much for the shares in January, so we can expect to see increased volatility as we approach this peak. The shares have gained around 7.7% since the middle of April, a sign that investors have been buying into the stock ahead of figures on Wednesday.
Petrofac is still oversold after its disastrous day on Friday, when an update saw 2014 profit targets slashed thanks to underperforming projects. The shares have found a floor above this year’s lows, close to £11, and are now attempting to rally from here.