Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The most oversold stocks in the consumer staples 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.
Webuy Global Ltd (NASDAQ: WBUY)
- On Jan. 8, Ohmyhome and Webuy Global announced a strategic collaboration to cross-sell their distinct services in Singapore. Rhonda Wong, CEO and Co-founder of Ohmyhome, said, "This collaboration allows both companies to leverage on our respective broad customer bases, thereby increasing our reach and complementing each other's service offerings centered around homes and communities." The company’s stock fell around 53% over the past month and has a 52-week low of $0.46 .
- RSI Value: 24.42
- WBUY Price Action: Shares of Webuy Global fell 1.7% to close at $0.5170 on Tuesday.
- On Dec. 18, Maison Solutions reported second-quarter results. "Maison Solutions reached an important milestone in the Company's history with the completion of our IPO in October, and a subsequent private placement in November, better positioning Maison Solutions for future growth," said John Xu, President and Chief Executive Officer. "We plan to achieve this growth through a combination of organic expansion and strategic acquisitions, while working toward further improving efficiency throughout our organization. The company’s stock fell around 93% over the past month. It has a 52-week low of $0.9450.
- RSI Value: 25.46
- MSS Price Action: Shares of Maison Solutions fell 5.4% to close at $0.9651 on Tuesday.
- On Jan. 4, African Agriculture Holdings announced a multi-year supply agreement with Dr. Kahn, a South Korea-based diversified holding company, to supply alfalfa to South Korea. "The scope of this agreement proves out our growth strategy, providing us with a validation by a leading South Korean company, representative of the highest quality control standards in that market," stated Alan Kessler, Chairman and CEO of African Agriculture. The company’s stock fell around 7% over the past five days and has a 52-week low of $0.4560.
- RSI Value: 16.35
- AAGR Price Action: Shares of African Agriculture Holdings closed at $1.00 on Tuesday.
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