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.
On Sept. 17, VCI Global rescinded its 20% stake acquisition in QuantGold Data Group and canceled the associated shares to streamline its capital base and boost EPS potential. The company’s stock fell around 56% over the past month and has a 52-week low of $9.50.
RSI Value: 29.5
VCIG Price Action: Shares of VCI Global gained 2.2% to close at $10.22 on Friday.
Edge Stock Ratings: 0.13 Momentum score with Value at 85.28.
On Sept. 17, Alight announced the addition of Sword Health, a musculoskeletal and mental health AI care platform, to its Alight Partner Network. The company’s stock fell around 14% over the past month and has a 52-week low of $3.33.
RSI Value: 25.9
ALIT Price Action: Shares of Alight fell 2.3% to close at $3.34 on Friday.
Benzinga Pro’s charting tool helped identify the trend in ALIT stock.
On July 30, Elong Power Holding Luyi Wang resigned as chief financial officer. The company’s stock fell around 52% over the past six months and has a 52-week low of $0.25.
RSI Value: 24.5
RVPH Price Action: Shares of eLong Power Holding gained 6.4% to close at $0.34 on Friday.
Benzinga Pro’s signals feature notified of a potential breakout in ELPW shares.
