Benzinga - by Lisa Levin, Benzinga Editor.
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.
Fisker Inc. (NYSE: FSR)
- Fisker said that its chief accounting officer Florus Beuting has resigned. For the third quarter, the company reported quarterly revenue of $71.8 million. The company’s stock has a 52-week low of $1.79 .
- RSI Value: 26.13
- FSR Price Action: Shares of Fisker gained 5.2% to close at $2.23 on Friday.
- GreenTree Hospitality reported third-quarter revenue of $63.2 million. "We had a good third quarter with a sustained recovery in tourism and business. The recovery in the hospitality industry continued during the third quarter. RevPAR increased 30.5% year over year, reaching as high as 110.0% of the third quarter of 2019 level in July and August with a surge in the tourist numbers during the summer vacation. While the recovery of RevPAR slowed down gradually in September, it remained healthy," said Mr. Alex S. Xu, Chairman and Chief Executive Officer of GreenTree. It has a 52-week low of $2.54.
- RSI Value: 20.55
- GHG Price Action: Shares of GreenTree Hospitality fell 2.4% to close at $4.00 on Friday.
- U Power posted a 1H loss of 1 cent per share. Mr. Jia Li, Chief Executive Officer and Chairman of the Board of Directors of the Company, commented, "In the first half of fiscal 2023, we made considerable progress on the key objective of promoting the sales of commercial electric vehicles and the development of battery-swapping business models through the communication of industry insights with numerous domestic and international partners. This move helps us to customize a clearer growth plan for scaling our core business." The company’s stock has a 52-week low of $1.98.
- RSI Value: 29.92
- UCAR Price Action: Shares of U Power rose 1.2% to close at $2.08 on Friday.
- Sacks Parente Golf posted a wider loss for the third quarter. Timothy Triplett, Sacks Parente Golf’s Chief Executive Officer, commented, "With the proceeds from our recent IPO, we have continued to build out our Missouri manufacturing facility in preparation for increased production of both our Sacks Parente putters and our soon-to-be-launched new line of Newton carbon fiber shafts." The company’s 52-week low is $0.6120.
- RSI Value: 18.90
- SPGC Price Action: Shares of Sacks Parente Golf gained 1.8% to close at $0.6616 on Friday.
- Dogness recently announced a 1-for-20 Class A common share consolidation. The company has a 52-week low of $2.8060.
- RSI Value: 23.22
- DOGZ Price Action: Shares of Dogness (International) Corporation rose 0.1% to close at $3.14 on Friday.
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