Top 3 Utilities Stocks That Could Lead To Your Biggest Gains This Month

Author: Avi Kapoor | August 08, 2024 09:20am

The most oversold stocks in the utilities 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.

Enel Chile SA – ADR (NYSE:ENIC)

• The company's stock fell around 9% over the past month and has a 52-week low of $2.56.
• RSI Value: 29.87
• ENIC Price Action: Shares of Enel Chile fell 1.1% to close at $2.61 on Wednesday.
• Benzinga Pro's real-time newsfeed alerted to latest ENIC news.

CenterPoint Energy Inc (NYSE:CNP)     

• On Aug. 7, CenterPoint Energy priced its $250 million public offering of 9,754,194 common shares at $25.63/share. The company's stock fell around 8% over the past five days. It has a 52-week low of $25.42.
• RSI Value: 27.33
• CNP Price Action: Shares of CenterPoint Energy fell 0.5% to close at $25.63 on Wednesday.
• Benzinga Pro’s charting tool helped identify the trend in CNP stock.

Alternus Clean Energy Inc (NASDAQ:ALCE)

• On May 9, Acadia Energy Corporation said it has completed a Joint Development Agreement (JDA) with Alternus Clean Energy to co-develop 200 Megawatts (MW) of microgrids in upstate New York. The company's shares fell around 40% over the past month and has a 52-week low of $0.18.
• RSI Value: 26.85
• ALCE Price Action: Shares of Alternus Clean Energy dipped 11.1% to close at $0.22 on Wednesday.
• Benzinga Pro’s signals feature notified of a potential breakout in ALCE shares.

Read Next:

• Wall Street’s Most Accurate Analysts Give Their Take On 3 Consumer Stocks Delivering High-Dividend Yields

Posted In: ALCE CNP ENIC