Top 3 Financials Stocks That Could Blast Off In September
Author: Avi Kapoor | September 09, 2024 07:36am
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 Sept. 6, Barclays upgraded the stock from Underweight to Equal-Weight and lowered its price target from $206 to $169. The company's stock fell around 22% over the past five days and has a 52-week low of $69.63.
RSI Value: 29.89
COIN Price Action: Shares of Coinbase fell 7.7% to close at $147.35 on Friday.
On Aug. 20, PagSeguro Digital posted better-than-expected quarterly sales. The company's stock fell around 25% over the past month It has a 52-week low of $6.93.
RSI Value: 27.15
PAGS Price Action: Shares of PagSeguro Digital fell 3.1% to close at $9.40 on Friday.
On Aug. 1, Patria Investments posted in-line earnings for the second quarter. Alex Saigh, Patria’s CEO, said, "The 2nd quarter of 2024 was a very busy quarter as we continued to make solid progress towards our near and long-term goals. Fee Related Earnings reached $40 million dollars, representing a 17% increase from 2Q23. We delivered close to $34 million dollars of Distributable Earnings, or 22 cents per share. We continued to grow and diversify our platform as we organically raised $2.2 billion dollars over the first half of 2024 and approximately $5 billion over the last twelve months, in addition to multiple inorganic initiatives." The company's shares fell around 5% over the past five days and has a 52-week low of $10.75.
RSI Value: 29.71
PAX Price Action: Shares of Patria Investments slipped 0.8% to close at $11.00 on Friday.