The industrials sector is known for its diverse range of companies that provide goods and services essential for the economy to function. In recent times, some of these companies have been experiencing oversold conditions, presenting an opportunity for investors to potentially buy into undervalued stocks.
One way to identify oversold stocks is by looking at the Relative Strength Index (RSI), a momentum indicator that measures a stock’s strength based on its price movements. When the RSI falls below 30, it is generally considered oversold, indicating that the stock may be undervalued and due for a potential rebound.
Here are some of the most oversold stocks in the industrials sector based on their RSI values:
1. **Skillsoft Corp. (SKIL)**
– Expected to report fourth quarter and full year fiscal 2024 financial results on April 15, 2024
– Stock fell around 29% over the past five days with a 52-week low of $7.37
– RSI Value: 26.36
2. **Pineapple Energy Inc. (PEGY)**
– Priced a $1 million registered direct offering of common stock on Feb. 5
– Stock fell around 32% over the past month with a 52-week low of $0.05
– RSI Value: 26.03
3. **Astra Space, Inc. (ASTR)**
– Agreed to be taken private on March 7
– Stock fell around 72% over the past month with a 52-week low of $0.5210
– RSI Value: 23.47
4. **The Boeing Company (BA)**
– Reported to have failed 33 out of 89 audits by the FAA following an incident in January
– Shares lost around 11% over the past month with a 52-week low of $176.25
– RSI Value: 28.66
5. **NeoVolta Inc. (NEOV)**
– Booked over $1 million in gross revenue for the fourth quarter
– Shares fell around 45% over the past month with a 52-week low of $0.6270
– RSI Value: 24.95
These stocks have all experienced significant price declines and have RSI values indicating oversold conditions. Investors looking for potential buying opportunities in the industrials sector may want to consider these companies for further research and analysis.
As always, it’s important to conduct thorough due diligence and consult with a financial advisor before making any investment decisions. The market can be volatile, and it’s essential to have a well-informed strategy when navigating opportunities like oversold stocks in the industrials sector.
