The most oversold stocks in the consumer staples 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.
Ingredion Inc (NYSE:INGR)
On June 11, Ingredion named Kenneth Escoe to its board of directors. “Kenneth will be a great addition to Ingredion’s board of directors,” said Jim Zallie, chairman, president and CEO, announcing Escoe’s election. “His track record of success leading capital-intensive businesses and transforming complex global operations across a range of commodity and specialty businesses will be a tremendous asset as we navigate our long-term growth strategy.” The company’s stock fell around 6% over the past month and has a 52-week low of $94.82.
