Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The most oversold stocks in the consumer staples 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.
AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI)
- On Dec. 20, AgriFORCE Growing Systems filed for an offering of up to 8.72 million shares of common stock by the selling stockholders. The company’s stock fell around 42% over the past month and has a 52-week low of $0.37 .
- RSI Value: 29.12
- AGRI Price Action: Shares of AgriFORCE Growing Systems gained 2.2% to close at $0.48 on Wednesday.
- On Nov. 20, the company posted a wider loss for the third quarter. Mr. Junling Liu, Co-Founder, Chairman, and Chief Executive Officer of 111, commented, "Despite the challenges in the macro-economy as well as retail pharmacy business, we have managed to deliver net revenue growth of 9.5% year-over-year, reaching RMB3.7 billion. This represents the 21st consecutive quarter of year-over-year progression for 111 since our NASDAQ IPO." The company’s stock fell around 35% over the past month. It has a 52-week low of $1.19.
- RSI Value: 22.24
- YI Price Action: Shares of 111 fell 4.1% to close at $1.39 on Wednesday.
- On Dec. 18, Maison Solutions posted a decline in sales for the second quarter. "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 90% over the past month and has a 52-week low of $1.45.
- RSI Value: 25.91
- MSS Price Action: Shares of Maison Solutions fell 8% to close at $1.50 on Wednesday.
- On Dec. 7, WEBUY GLOBAL posted interim H1 revenue of $24.4 million. Vincent Xue Bin, Chief Executive Officer and Co-Founder of Webuy Global stated, “I am pleased to report we achieved a. 62.4% increase in revenue, totaling $24.4 million for the first half of 2023, compared to the same period last year. The revenue growth was primarily driven by a 208% increase in sales of groceries in Indonesia through our platform, reaching $13.7 million for the first half of 2023.” The company’s shares lost around 30% over the past five days. The company’s 52-week low is $0.46.
- RSI Value: 23.34
- WBUY Price Action: Shares of Webuy Global fell 15.9% to close at $0.4910 on Wednesday.
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