Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The most oversold stocks in the financial 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.
AGBA Group Holding Limited (NASDAQ: AGBA)
- On Nov. 8, AGBA Group entered into term sheets for $6.2 million private placement offering. The company’s stock fell around 27% over the past month and has a 52-week low of $0.3507 .
- RSI Value: 29.61
- AGBA Price Action: Shares of AGBA Group fell 4.5% to close at $0.3788 on Thursday.
- On Oct. 30, Arch Capital posted better-than-expected quarterly earnings. The company’s stock fell around 10% over the past month. It has a 52-week low of $59.96.
- RSI Value: 29.42
- ACGL Price Action: Shares of Arch Capital fell 4.7% to close at $74.67 on Thursday.
- On Oct. 24, AppTech Payments announced the pricing of a $3.5 million registered direct offering. The company’s stock fell around 16% over the past five days and has a 52-week low of $0.7470.
- RSI Value: 26.04
- APCX Price Action: Shares of AppTech Payments fell 3.5% to close at $1.38 on Thursday.
- On Dec. 1, Hywin Holdings said it formed strategic partnership agreement with Tencent Cloud for digital transformation. The company’s shares lost around 57% over the past five days. The company’s 52-week low is $2.6957.
- RSI Value: 4.30
- HYW Price Action: Shares of Hywin Holdings fell 16% to close at $2.7736 on Thursday.
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