Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The most oversold stocks in the consumer staples sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
AgriFORCE Growing Systems Ltd. (NASDAQ:AGRI)
- On May 6, AgriFORCE announced an offering of 432.5 million shares by selling stockholders. The company's stock fell around 29% over the past month and has a 52-week low of $0.0840.
- RSI Value: 29.42
- AGRI Price Action: Shares of AgriFORCE Growing Systems rose 14.1% to close at $0.1060 on Wednesday.
- On May 7, Grocery Outlet reported worse-than-expected first-quarter adjusted EPS results. “Our sales momentum remained strong during the first quarter as we continue to deliver unbeatable value with an exciting treasure hunt experience, driving continued growth in traffic and sales,” said RJ Sheedy, President and CEO of Grocery Outlet. “Despite progress with our systems transition and ending the operator commission support program, as planned, we are disappointed that additional systems conversion issues resulted in a higher than expected adverse profit impact. Our long term growth potential remains intact and we look forward to returning to more normalized business results as we near the end of our systems transition.” The company's stock fell around 22% over the past month. It has a 52-week low of $19.73.
- RSI Value: 28.32
- GO Price Action: Shares of Grocery Outlet gained 2.4% to close at $20.91 on Wednesday.
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