A slew of consumer stocks are now oversold as S&P 500 falls for a fourth week in a row

The S & P 500 posted its fourth straight losing week on Friday as the U.S.-Iran war continued, pushing some names deeper into oversold territory. A stock is considered oversold when its 14-day relative strength index falls below 30. Traders sometime see an oversold reading as a buying opportunity, signaling the stock may have fallen too far in too short of a time. To be sure, there are some stocks that may have overextended themselves to the upside despite the broad market decline. Overbought stocks are those with RSI reading above 70. Using LSEG data, CNBC Pro looked for S & P 500 stocks that are oversold based on RSI and fell at least 5% on the week. We also identified overbought stocks that rose at least 5% for the week. Oversold stocks Several consumer staples names were among the most oversold stocks this week as an ongoing conflict in the Middle East led consumers to tighten their purse strings. Among them is McCormick . With an RSI of 21.3, McCormick is the third-most oversold stock in the S & P 500. The stock fell more than 7% for the week and is down more than 20% this month. However, the stock was a relative outperformer on Friday after Unilever said in talks to separate its food business and merge it with McCormick. “We acknowledge the significant strategic merit and likely compelling EPS accretion from this potential transaction but also concede the hefty likely deal value, execution risk and resultant majority ownership of the combined entity by Unilever shareholders could dampen initial investor enthusiasm,” wrote analyst Andrew Lazar, who has an equal weight rating on McCormick. Other consumer staples stocks that are oversold are General Mills and Conagra Brands . However, the most oversold name was Automotive and industrial products and solutions firm Genuine Parts . The stock had the lowest RSI at 13.6. Overbought stocks Energy companies dominated the overbought list as the U.S.-Iran war continued, driving oil prices higher. APA had the highest RSI at 81.7. APA rose roughly 14% for the week. Other overbought stocks included Occidental Petroleum , Ciena and Devon Energy . As the war continues, energy stocks such as these could see further gains alongside oil. However, the overbought signal may serve as a warning for investors to begin paring positions in these names.