Top 3 Financials Stocks That Could Blast Off This Quarter
Author: Avi Kapoor | August 26, 2024 08:42am
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 May 30, Highest Performances Holdings posted 1H 2024 revenue of $5 million. Mr. Yinan Hu, Chief Executive Officer of HPH, commented, “In the first half of the fiscal year 2024, despite economic downturn and market uncertainties, we made positive progress in both retail and institutional fronts.” The company's stock fell around 61% over the past month and has a 52-week low of $1.70.
RSI Value: 25.14
HPH Price Action: Shares of Highest Performances Holdings gained 2.5% to close at $2.03 on Friday.
On Aug. 22, Katapult promoted Derek Medlin to President and Chief Growth Officer. “Derek has been a terrific partner to me over the past seven years and I am excited to expand his role at this critical juncture in our growth cycle,” said Orlando Zayas, CEO of Katapult. The company's stock fell around 41% over the past month. It has a 52-week low of $8.26.
RSI Value: 27.04
KPLT Price Action: Shares of Katapult fell 0.3% to close at $11.65 on Friday.
On Aug. 20, DigiAsia named Andreas Gregori to its AI Strategic Advisory Board. The company's shares fell around 66% over the past month and has a 52-week low of $0.96.
RSI Value: 25.12
FAAS Price Action: Shares of DigiAsia fell 14.2% to close at $0.97 on Friday.