Benzinga - The most oversold stocks in the industrials 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.
AMERCO (NASDAQ: UHAL)
- AMERCO, last month, posted weaker-than-expected Q2 results. The company’s stock has a 52-week low of $44.79 .
- RSI Value: 17.98
- UHAL Price Action: Shares of AMERCO fell 3.9% to settle at $62.39 on Thursday, and declined 0.2% in today’s pre-market trading.
Cadre Holdings, Inc. (NYSE: CDRE)
- Cadre Holdings, last month, posted mixed results for its second quarter. The company’s stock has a 52-week low of $17.74.
- RSI Value: 29.35
- CDRE Price Action: Shares of Cadre Holdings fell 0.6% to close at $21.76 on Thursday, and lost 0.1% in the after-hours trading session.
Virgin Orbit Holdings, Inc. (NASDAQ: VORB)
- Virgin Orbit, last month, posted in-line loss for its third quarter. The company’s stock has a 52-week low of $1.90.
- RSI Value: 29.68
- VORB Price Action: Shares of Virgin Orbit Holdings dropped 11.2% to close at $1.90 on Thursday, and gained 6.8% in today’s pre-market trading.
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Desktop Metal, Inc. (NYSE: DM)
- Desktop Metal, last month, received a $9 million order from a major German automaker for binder jet additive manufacturing systems. The company’s 52-week low is $1.26.
- RSI Value: 25.56
- DM Price Action: Shares of Desktop Metal dropped 5.1% to close at $1.48 on Thursday.
Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN)
- Grindrod Shipping recently announced changes to its Board of Directors. The company has a 52-week low of $13.50.
- RSI Value: 14.07
- GRIN Price Action: Shares of Grindrod Shipping dropped 0.1% to settle at $20.99 on Thursday, and added 0.1% in the after-hours trading session.