Benzinga - by Avi Kapoor, Benzinga Staff Writer.
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, according to Benzinga Pro.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Avis Budget Group, Inc. (NASDAQ: CAR)
- On Feb. 21, Avis Budget Group announced pricing of €600 million of senior notes. The company’s stock fell around 40% over the past month. It has a 52-week low of $99.60.
- RSI Value: 23.28
- CAR Price Action: Shares of Avis Budget gained 5% to close at $105.04 on Friday.
- OceanPal Inc. 13G filing showed Maria Margaroni Reported a 8% stake in the co as of Dec. 13, 2023. The company’s stock fell around 15% over the past five days and has a 52-week low of $1.26.
- RSI Value: 21.53
- OP Price Action: Shares of OceanPal fell 9.6% to close at $1.88 on Friday.
Read More: Workday, Domino's And 3 Stocks To Watch Heading Into Monday
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