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.
Agrify Corporation (NASDAQ: AGFY)
- On Jan. 18, Agrify announced it has entered into a sales agreement with a vertically-integrated, California-based cannabis operator. “We are very excited to announce this agreement for the sale of our first combined VFU and PX30 Hydrocarbon Extraction Lab facility in the state of California. We applaud our partner Ocean Deep/Golden Lake Business Park’s foresight for selecting Agrify’s technologies in the fiercely competitive California market. We believe our superior cultivation and extraction technologies will allow Ocean Deep to offer the highest quality and most consistent products to its customers,” said Raymond Chang, CEO of Agrify. The company’s stock fell around 33% over the past five days and has a 52-week low of $0.5710 .
- RSI Value: 25.88
- AGFY Price Action: Shares of Agrify fell 6.6% to close at $0.6050 on Friday.
- On Nov. 7, SES AI posted a narrower-than-expected third-quarter loss. "Earlier this year, we laid out the goal to transition to B samples, and I’m happy to report, we are almost there. This would be the world’s first automotive B-sample for Li-Metal and would be a major milestone for SES," said Founder and Chief Executive Officer Qichao Hu. "We have recently achieved some significant fundamental breakthroughs in materials and engineering that address the inherent safety issues in both Li-ion and Li-Metal batteries." The company’s stock fell around 18% over the past five days. It has a 52-week low of $1.20.
- RSI Value: 28.63
- SES Price Action: Shares of SES AI gained 1.7% to close at $1.23 on Friday.
- On Jan. 26, JetBlue Airways disclosed its inability to comply with every provision of the $3.8 billion merger deal within the stipulated period. The company’s stock fell around 62% over the past month and has a 52-week low of $4.04.
- RSI Value: 25.99
- SAVE Price Action: Shares of Spirit Airlines fell 13.4% to close at $6.25 on Friday.
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