Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The most oversold stocks in the financial 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.
Great Ajax Corp. (NYSE: AJX)
- On Feb. 26, Gret Ajax reported worse-than-expected fourth-quarter adjusted EPS results.. The company’s stock fell around 25% over the past month and has a 52-week low of $3.30 .
- RSI Value: 29.64
- AJX Price Action: Shares of Great Ajax fell 0.3% to close at $3.59 on Friday.
- On March 6, TriplePoint Venture Growth reported worse-than-expected fourth-quarter financial results. "Venture capital markets continued to be challenging in the fourth quarter," said Jim Labe, chairman and chief executive officer of TPVG. "We remain focused on our established priorities that we believe will enable the Company to navigate the current market environment." The company’s stock fell around 8% over the past five days. It has a 52-week low of $9.08.
- RSI Value: 25.94
- TPVG Price Action: Shares of TriplePoint Venture Growth BDC fell 0.3% to close at $9.09 on Friday.
- On Feb. 26, AtlasClear said it acquired technology assets from Pacsquare Technologies. The company’s stock fell around 24% over the past month and has a 52-week low of $0.9310.
- RSI Value: 23.76
- ATCH Price Action: Shares of AtlasClear Holdings fell 3.8% to close at $1.54 on Friday.
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