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.
TTEC Holdings, Inc. (NASDAQ: TTEC)
- On Feb. 29, TTEC reported mixed fourth-quarter financial results and issued FY24 adjusted EPS and revenue guidance below estimates. The company’s stock fell around 25% over the past five days and has a 52-week low of $11.06 .
- RSI Value: 26.41
- TTEC Price Action: Shares of TTEC Holdings gained 0.7% to close at $11.47 on Thursday.
- On Jan. 16, SOS announced the launch of additional 1,500 mining rigs at its super-computing center in Texas. The company’s stock fell around 39% over the past five days. It has a 52-week low of $1.89.
- RSI Value: 29.57
- SOS Price Action: Shares of SOS fell 15% to close at $2.16 on Thursday.
- On March 4, Spirit Airlines announced the termination of its merger agreement with JetBlue. The company’s stock fell around 21% over the past five days and has a 52-week low of $4.04.
- RSI Value: 25.75
- SAVE Price Action: Shares of Spirit Airlines fell 2.1% to close at $5.10 on Thursday.
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