There are overbought stocks, and then there’s Delta Air Lines . The airline’s 14-day relative index reached 100 — the highest level possible — after the stock’s nearly 9% rally this week. The move comes after the company resumed its quarterly dividend . Delta shares have also been on fire this month as investors become more optimistic about the travel industry’s prospects going forward. However, such a high RSI level indicates the stock may be due for a pullback in the short term — even if 85% of analysts covering it have buy ratings on Delta. A stock is considered overbought if its 14-day RSI goes above 70, signaling investors should consider easing their exposure. A 14-day RSI under 30, however, signals that a stock is oversold, meaning there may be a buying opportunity. Take a look at the most overbought stocks in the S & P 500 . Retail giant Walmart is also among the most overbought S & P 500 names, with an RSI of nearly 97. The stock is up almost 10% year to date, and roughly two-thirds of analysts covering it rate have buy ratings on it. That said, the average analyst price target implies just 7% upside over the next 12 months. Tesla also made the cut for stocks deep in overbought territory. The electric vehicle maker has an RSI of more than 96. The stock has been on a tear this year, more than doubling. Last week, it snapped a 13-day winning streak — its longest on record. Earlier this month, shares got a boost on news that General Motors will use Tesla’s electric vehicle charging network . TSLA YTD mountain TSLA in 2023 However, analysts on average see its stock falling more than 20% after its recent surge, FactSet data shows. Bernstein’s Toni Sacconaghi, a longtime Tesla bear, said Friday the company’s cost advantage could be in trouble. “Broadly, we see 5 parallels between Ford during the Model T era and Tesla today,” Sacconaghi said, highlighting the fact that “both came with the backdrop of a period of dramatic market growth (up 90x in 18 years)” and that “both Ford and Tesla drove down price to capture share.” “That said, we also believe that auto market today is increasingly global and structurally more competitive than it was in the 1920s, and as a result Tesla’s cost advantage may not be as sustainable/long-lasting as Ford’s was,” he said. American Airlines , Netflix and Norwegian Cruise Line are also deeply overbought, based on their 14-day RSIs. Still, there are some names that are oversold and could be due for a rebound in the near term. Advance Auto Parts is by far the most oversold S & P 500 stock with an RSI of 13. The company last month posted a massive earnings miss that led to several analyst downgrades . Overall, just 7% of analysts have buy ratings on the stock, though the average price target implies upside of 18%. Year to date, Advance Auto Parts shares are down more than 50%. Dollar General and Campbell Soup are also oversold, based on their respective RSIs of 22 and 26. Shares of Dollar General are down nearly 19% this month after the discount retailer posted weaker-than-expected first-quarter earnings and slashed its full-year outlook. The company cited a ” challenging ” economic outlook for the guidance cut. Campbell Soup, meanwhile, reported fiscal third-quarter earnings on June 7 that beat analyst expectations. However, the company’s full-year earnings forecast was slightly below Street estimates. Analysts are also bearish on the stock, with only 5% of them rating it a buy. However, with an RSI below 30, it may be due for a bounce near term. There are also other names approaching oversold territory, including General Mills , SolarEdge Technologies and Kraft Heinz . — CNBC’s Michael Bloom contributed reporting.