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.
Exploring H.B. Fuller Company (NYSE: FUL)
- On Sept. 25, H.B. Fuller reported worse-than-expected third-quarter financial results and issued FY24 adjusted EPS guidance below estimates. The company’s stock fell around 3% over the past five days and has a 52-week low of $64.64.
- RSI Value: 28.45
- FUL Price Action: Shares of H.B. Fuller fell 1.8% to close at $80.63 on Wednesday.
An Insight into Clearwater Paper Corp (NYSE: CLW)
- On Aug. 6, Clearwater Paper reported quarterly losses of $1.55 per share. The company’s stock fell around 15% over the past month. It has a 52-week low of $27.69.
- RSI Value: 28.90
- CLW Price Action: Shares of Clearwater Paper fell 4.7% to close at $28.40 on Wednesday.
Navigating Bioceres Crop Solutions Corp (NASDAQ: BIOX)
- On Sept. 9, Bioceres reported worse-than-expected fourth-quarter sales results. The company’s shares fell around 22% over the past month and has a 52-week low of $7.74
- RSI Value: 21.88
- BIOX Price Action: Shares of Bioceres Crop Solutions fell 3.3% to close at $7.85 on Wednesday.