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, according to Benzinga Pro.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Hawkins Inc (NASDAQ:HWKN)
On July 29, Hawkins reported worse-than-expected first-quarter EPS results. “Our first quarter was a solid start to the year, highlighted by another quarter of record results in revenue, gross profit, and adjusted EBITDA” said Patrick Hawkins, Chief Executive Officer and President. The company’s stock fell around 14% over the past month and has a 52-week low of $117.98.
