Top 3 Risk Off Stocks Which Could Rescue Your Portfolio This Quarter
Author: Avi Kapoor | October 17, 2024 07:18am
The most oversold stocks in the consumer staples 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 Oct. 14, Coty announced preliminary first quarter results and reiterated FY25 adjusted Ebitda outlook for +9-11% year over year growth. The company's stock fell around 11% over the past five days and has a 52-week low of $7.95.
RSI Value: 29.19
COTY Price Action: Shares of Coty fell 2.3% to close at $7.99 on Wednesday.
On Sept. 13, 22nd Century Group's chairman and CEO Lawrence Firestone purchased 39,000 shares at an average price of 27 cents per share, disclosed in an SEC filing. The company's stock fell around 43% over the past five days. It has a 52-week low of $0.10.
RSI Value: 22.29
XXII Price Action: Shares of 22nd Century Group fell 17.4% to close at $0.11 on Wednesday.
On Oct 14, Mangoceuticals announced a 1-for-15 reverse stock split.. The company's shares fell around 21% over the past five days and has a 52-week low of $2.14.
RSI Value: 29.63
MGRX Price Action: Shares of Mangoceuticals fell 6.8% to close at $2.47 on Wednesday.
