Benzinga - The most oversold stocks in the materials 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.
Commercial Metals Company (NYSE: CMC)
- Commercial Metals reported better-than-expected Q1 EPS and sales results. The company’s stock has a 52-week low of $31.47 .
- RSI Value: 28.37
- CMC Price Action: Shares of Commercial Metals gained 2.5% to close at $44.34 on Thursday.
- Origin Materials posted better-than-expected Q4 earnings. The company’s stock has a 52-week low of $3.86.
- RSI Value: 27.39
- ORGN Price Action: Shares of Origin Materials rose 1.8% to close at $4.06 on Thursday.
- Sasol reported a mixed set of results for the first six months of 2023. The company’s stock has a 52-week low of $12.00.
- RSI Value: 23.86
- SSL Price Action: Shares of Sasol gained 2.1% to close at $12.50 on Thursday.
- International Flavors & Fragrances reported worse-than-expected Q4 sales results and issued FY23 revenue guidance below estimates. The company’s 52-week low is $81.53.
- RSI Value: 27.82
- IFF Price Action: Shares of International Flavors & Fragrances gained 1.2% to close at $83.71 on Thursday.
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Dow Inc. - Dow reported Q4 FY22 adjusted EPS of $0.46, missing the Street estimates of $0.58.The company has a 52-week low of $42.91.
- RSI Value: 26.43
- DOW Price Action: Shares of Dow rose 0.9% to close at $50.91 on Thursday.
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