Benzinga - by Lisa Levin, Benzinga Editor.
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.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
AMTD IDEA Group (NYSE: AMTD)
- AMTD IDEA extended its share repurchase program until the end of the last business day of the first quarter in 2024. The company’s stock has a 52-week low of $0.7050 .
- RSI Value: 22.18
- AMTD Price Action: Shares of AMTD IDEA fell 2.3% to close at $0.7609 on Wednesday.
- Great Ajax is expected to release its financial results for the third quarter after the closing bell on Nov. 2, 2023. It has a 52-week low of $4.08.
- RSI Value: 22.24
- AJX Price Action: Shares of Great Ajax fell 2.1% to close at $4.23 on Wednesday.
- Beneficient closed on a $25 million term loan financing. The company’s stock has a 52-week low of $0.58.
- RSI Value: 19.67
- BENF Price Action: Shares of Beneficient fell 1.5% to close at $0.60 on Wednesday.
- BOK Financial posted downbeat earnings for the third quarter. Stacy Kymes, president and chief executive officer, stated, "We recognized another solid quarter of earnings driven by our diverse business model, which prudently balances interest revenue with non-interest revenues and allows us to perform well in a multitude of business climates." The company’s 52-week low is $62.42.
- RSI Value: 27.84
- BOKF Price Action: Shares of BOK Financial rose 0.5% to close at $65.84 on Wednesday.
- Siebert Finl reported an increase in sales for the second quarter. John J. Gebbia, CEO of Siebert said, “Our second quarter results demonstrate the diversity of our business model and how we’re able to successfully navigate market conditions to execute on our growth strategy.” The company has a 52-week low of $1.20.
- RSI Value: 27.19
- SIEB Price Action: Shares of Siebert Financial rose 0.3% to close at $1.5150 on Wednesday.
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