Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The most oversold stocks in the consumer discretionary 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.
iRobot Corporation (NASDAQ: IRBT)
- iRobot said it will issue its fourth-quarter 2023 financial results after the closing bell on Feb. 26, 2024. The company’s stock fell around 29% over the past month and has a 52-week low of $11.82 .
- RSI Value: 22.89
- IRBT Price Action: Shares of iRobot fell 0.6% to close at $12.35 on Friday.
- On Feb. 8, Leggett & Platt reported worse-than-expected fourth-quarter financial results and issued FY24 adjusted EPS and revenue guidance below estimates. President and CEO Mitch Dolloff commented, "2023 was another challenging year for residential end markets as our Bedding Products and Furniture, Flooring & Textile Products segments faced ongoing weak market demand. Encouragingly, our Specialized Products segment benefited from sustained demand strength as industrial end markets continue to recover post-pandemic." The company’s stock fell around 14% over the past month. It has a 52-week low of $19.63.
- RSI Value: 25.79
- LEG Price Action: Shares of Leggett & Platt fell 1.4% to close at $19.80 on Friday.
- On Nov. 14, Private equity firm F9 Investments, LLC proposed to acquire all the issued and outstanding shares of common stock of LL Flooring Holdings for $3.00 per share. The company’s stock fell around 25% over the past month and has a 52-week low of $2.03.
- RSI Value: 27.00
- LL Price Action: Shares of LL Flooring fell 3.2% to close at $2.14 on Friday.
- On Feb. 14, Sony Group reported third-quarter financial results, revised guidance above estimates and shared plans to list its financial arm in October 2025. The company’s shares lost around 7% over the past five days. The company’s 52-week low is $30.42.
- RSI Value: 23.32
- SONY Price Action: Shares of Sony Group fell 3.4% to close at $88.84 on Friday.
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