The most oversold stocks in the consumer discretionary 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.
iRobot Corporation (NASDAQ:IRBT)
- iRobot, during November, posted a Q3 loss of $1.78 per share. The company’s stock has a 52-week low of $35.41 .
- RSI Value: 29.88
- IRBT Price Action: Shares of iRobot rose 0.4% to close at $42.46 on Tuesday and lost 0.4% in after-hours trading.
Yunji Inc. (NASDAQ:YJ)
- Yunji recently announced receipt of Nasdaq non-compliance notice. The company’s stock has a 52-week low of $0.52.
- RSI Value: 27.99
- YJ Price Action: Shares of Yunji gained 1.7% to close at $0.6103 on Tuesday and lost 2.9% in after-hours trading.
Vision Marine Technologies Inc. (NASDAQ:VMAR)
- Vision Marine Technologies recently announced the resignation of Mr. Renaud Cloutier from the Board of Directors for personal reasons. The company’s stock has a 52-week low of $3.35.
- RSI Value: 29.96
- VMAR Price Action: Shares of Vision Marine Technologies fell 2.2% to close at $4.51 on Tuesday.
Chegg, Inc. (NYSE:CHGG)
- Chegg issued weak Q1 and FY23 guidance. The company’s 52-week low is $15.66.
- RSI Value: 24.29
- CHGG Price Action: Shares of Chegg dropped 17.1% to close at $17.43 on Tuesday and added 0.4% in after-hours trading.
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