Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The most oversold stocks in the industrials 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.
Skillsoft Corp. (NYSE: SKIL)
- Skillsoft is expected to report fourth quarter and full year fiscal 2024 financial results on April 15, 2024. The company’s stock fell around 29% over the past five days and has a 52-week low of $7.37 .
- RSI Value: 26.36
- SKIL Price Action: Shares of Skillsoft fell 4.3% to close at $8.08 on Tuesday.
- On Feb. 5, Pineapple Energy priced a $1 million registered direct offering of common stock. The company’s stock fell around 32% over the past month. It has a 52-week low of $0.05.
- RSI Value: 26.03
- PEGY Price Action: Shares of Pineapple Energy fell 3.2% to close at $0.0610 on Tuesday.
- On March 7, Astra Space agreed to be taken private. The company’s stock fell around 72% over the past month and has a 52-week low of $0.5210.
- RSI Value: 23.47
- ASTR Price Action: Shares of Astra Space gained 1.9% to close at $0.5398 on Tuesday.
- Boeing was reported on March 12 to have failed 33 out of 89 audits carried out by the Federal Aviation Administration following the Alaska Air incident in January in which a door panel blew out of a 737 Max jet. The company’s shares lost around 11% over the past month. The company’s 52-week low is $176.25.
- RSI Value: 28.66
- BA Price Action: Shares of Boeing rose 0.7% to close at $181.14 on Tuesday.
- On Feb. 13, NeoVolta announced that it booked over $1 million in gross revenue for the fourth quarter. The company’s shares fell around 45% over the past month. The company has a 52-week low of $0.6270.
- RSI Value: 24.95
- NEOV Price Action: Shares of NeoVolta gained 7.7% to close at $0.82 on Tuesday.
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