Top 3 Financials Stocks Which Could Rescue Your Portfolio For July
Author: Avi Kapoor | July 30, 2024 08:29am
The most oversold stocks in the financials 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.
On July 23, the company reported 7.85 billion transactions for the full year 2023, compared to 4.5 billion transactions during the full year 2022. The company's stock fell around 47% over the past month and has a 52-week low of $2.71.
RSI Value: 23.36
FAAS Price Action: Shares of DigiAsia fell 1.6% to close at $2.83 on Monday.
On June 6, Jiayin posted a decline in first-quarter EPS. Mr. Yan Dinggui, the Company’s Founder, Director and Chief Executive Officer, commented, “Reflecting on the first quarter of 2024, I am pleased to report that our company achieved remarkable results. We reached a loan facilitation volume of RMB22.5 billion, representing a 13.6% year-over-year increase and exceeding our targets while our net revenue grew by 31.5%.” The company's stock fell around 12% over the past month. It has a 52-week low of $4.45.
RSI Value: 24.99
JFIN Price Action: Shares of Jiayin Group gained 1.7% to close at $5.47 on Monday.
Finance of America Companies said t it will release results for the second quarter after the closing bell on Tuesday, Aug. 6. The company's stock dipped around 16% over the past six months and has a 52-week low of $4.10.
RSI Value: 21.38
FOA Price Action: Shares of Finance of America fell 1.1% to close at $7.53 on Monday.
