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.
Shengfeng Development Limited (NASDAQ:SFWL)
- The company’s stock fell around 80% over the past month and has a 52-week low of $2.24 .
- RSI Value: 24.39
- SFWL Price Action: Shares of Shengfeng Development fell 9.5% to close at $2.66 on Tuesday.
Volato Group, Inc. (NYSE:SOAR)
- On Dec. 27, Volato said it has expanded its fleet by 50% to a total of 24 HondaJet aircraft as of Dec, 2023. “Volato’s measured and thoughtful approach to fleet expansion is critical to achieving our long-term plan for sustainable growth,” said Matt Liotta, Co-Founder and CEO of Volato. “We have been creative and judicious in acquiring HondaJets through the open market while continuing to receive new aircraft from our HondaJet factory order. The recent deliveries allow us to expand our capacity at a pivotal time in Volato’s growth and increase our capacity to support our growing customer base.” The company’s stock fell around 55% over the past month. It has a 52-week low of $3.38.
- RSI Value: 28.66
- SOAR Price Action: Shares of Volato Group gained 4.6% to close at $3.95 on Tuesday.
TechPrecision Corporation (NASDAQ:TPCS)
- On Nov. 29, Techprecision signed a definitive agreement to acquire Votaw Precision Technologies for a purchase price of $85 million on a cash and debt free basis. Alexander Shen, TechPrecision’s Chief Executive Officer said, “On a consolidated basis, the Votaw acquisition will immediately more than double the Company’s revenue and EBITDA, and will strategically increase TechPrecision’s already established defense and aerospace presence.” The company’s stock fell around 13% over the past month and has a 52-week low of $1.88.
- RSI Value: 29.26
- TPCS Price Action: Shares of TechPrecision gained 2.8% to close at $5.30 on Tuesday.
Read More: Investor Sentiment Edges Lower; Nasdaq Records Worst Session Since October
