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.
Amyris, Inc. (NASDAQ: AMRS)
- Amyris reported revenue for the first quarter. "We are pleased with the start of the year and are focused on operating with a more efficient cost base while continuing to deliver strong revenue growth," commented John Melo, President and Chief Executive Officer. The company’s stock has a 52-week low of $0.7000 .
- RSI Value: 29.54
- AMRS Price Action: Shares of Amyris rose 5.3% to close at $0.8176 on Friday.
- Valhi posted a loss for the fourth quarter. The company’s stock has a 52-week low of $14.86.
- RSI Value: 28.73
- VHI Price Action: Shares of Valhi rose 0.8% to close at $15.53 on Friday.
- TriMas posted better-than-expected Q1 results. "Our first quarter results came in largely as anticipated, with pockets of strength and strong backlogs in certain of our end markets," said Thomas Amato, TriMas President and Chief Executive Officer. The company’s stock has a 52-week low of $21.41.
- RSI Value: 27.31
- TRS Price Action: Shares of TriMas rose 0.5% to close at $25.41 on Friday.
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MP Materials Corp. - Northland Capital Markets recently downgraded the stock from Outperform to Market Perform and lowered its price target from $48 to $32. The company’s 52-week low is $20.92.
- RSI Value: 26.05
- MP Price Action: Shares of MP Materials rose 0.2% to close at $21.67 on Friday.
- SunCoke Energy and Cleveland-Cliffs extended Indiana Harbor cokemaking agreement through September 2035. The company has a 52-week low of $5.72.
- RSI Value: 25.32
- SXC Price Action: Shares of SunCoke Energy dropped 0.4% to close at $7.78 on Friday.
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