Benzinga - The most oversold stocks in the materials 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.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Braskem S.A. (NYSE: BAK)
- Braskem’s shares have dropped 23% over the past month. The company’s stock has a 52-week low of $8.41 .
- RSI Value: 26.26
- BAK Price Action: Shares of Braskem fell 0.7% to settle at $8.57 on Monday, and gained 3% in the after-hours trading session.
- Intrepid Potash, last month, reported worse-than-expected Q3 results.. The company’s stock has a 52-week low of $28.79.
- RSI Value: 27.17
- IPI Price Action: Shares of Intrepid Potash rose 0.5% to close at $29.56 on Monday and added 0.1% in after-hours trading.
- Bioceres Crop Solutions, last month, reported better-than-expected quarterly sales. The company’s stock has a 52-week low of $9.27.
- RSI Value: 28.32
- BIOX Price Action: Shares of Bioceres Crop Solutions gained 1.6% to close at $11.29 on Monday.
- Huadi International, last month, entered into a securities purchase agreement with two institutional investors for a registered direct offering of $25 million of its shares. The company’s 52-week low is $4.50.
- RSI Value: 18.30
- HUDI Price Action: Shares of Huadi International dropped 6.5% to close at $4.59 on Monday and fell 4.8% in today’s pre-market trading.