Benzinga - by Lisa Levin, Benzinga Editor.
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.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Eastside Distilling, Inc. (NASDAQ: EAST)
- Eastside Distilling posted second-quarter net sales of $2.661 million. The company’s stock has a 52-week low of $1.65 .
- RSI Value: 26.43
- EAST Price Action: Shares of Eastside Distilling gained 4.7% to close at $1.79 on Wednesday.
- Farmer Brothers announced transition of Chief Financial Officer. It has a 52-week low of $1.75.
- RSI Value: 25.78
- FARM Price Action: Shares of Farmer Bros. rose 3.8% to close at $2.18 on Wednesday.
- Coffee Holding entered into a definitive merger and share exchange agreement with a Bulk & Energy logistics holding company, Delta Corp Holdings Limited. The company’s stock has a 52-week low of $1.19.
- RSI Value: 29.69
- JVA Price Action: Shares of Coffee Holding gained 3.3% to close at $1.24 on Wednesday.
- According to the Wall Street Journal, Rite Aid Corporation is reportedly preparing a bankruptcy filing amid a slew of lawsuits realted to the opiod crisis. The company’s 52-week low is $0.6600.
- RSI Value: 29.55
- RAD Price Action: Shares of Rite Aid rose 2.5% to close at $0.82 on Wednesday.
- Dollar Tree reported second-quarter financial results and issued third-quarter EPS guidance below estimates. The company has a 52-week low of $121.80.
- RSI Value: 20.81
- DLTR Price Action: Shares of Dollar Tree rose 1.1% to close at $124.49 on Wednesday.
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