Top 2 Financial Stocks That Are Preparing To Pump This Quarter

Author: Avi Kapoor | January 12, 2024 08:03am

The most oversold stocks in the financial 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.

Ellington Financial Inc. (NYSE:EFC)

• On Dec. 12, Arlington Asset Investment shareholders approved a merger with Ellington Financial Inc. The company’s stock fell around 3% over the past month and has a 52-week low of $10.82 .
• RSI Value: 29.54
• EFC Price Action: Shares of Ellington Financial gained 0.2% to close at $12.72 on Thursday.

Hywin Holdings Ltd. (NASDAQ:HYW)

• On Dec. 1, Hywin Holdings said it formed strategic partnership agreement with Tencent Cloud for digital transformation. The company’s stock fell around 77% over the past month. It has a 52-week low of $1.2620.
• RSI Value: 6.13
• HYW Price Action: Shares of Hywin Holdings fell 4.3% to close at $1.3401 on Thursday.

 

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Posted In: EFC HYW