Benzinga - by Lisa Levin, Benzinga Editor.
The most oversold stocks in the materials 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.
United States Antimony Corporation (NYSE: UAMY)
- U.S. Antimony, during August, announced appointment of Gary C. Evans as Chairman of its Board of Directors. The company’s stock has a 52-week low of $0.24 .
- RSI Value: 29.71
- UAMY Price Action: Shares of United States Antimony fell 2% to close at $0.2550 on Tuesday.
- Northern Technologies posted weaker-than-expected earnings for the fourth quarter. “Fiscal 2023 marked NTIC’s third year of consecutive record sales, despite the economic challenges growing in both Europe and China, as well as rising interest rates in the U.S. Our continued sales growth success demonstrates the increasing value we provide our global customers as well as the efficacy of our strategic focus on diversifying our products, end markets and geographies,” said G. Patrick Lynch, President and CEO of NTIC. It has a 52-week low of $10.10.
- RSI Value: 24.22
- NTIC Price Action: Shares of Northern Technologies International fell 4.2% to close at $11.21 on Tuesday.
- The company posted a loss for the third quarter. “We are vigilantly monitoring events in the Middle East, recognizing that any disruptions in the Dead Sea region could suddenly alter market dynamics. Looking ahead, we envision returning to profitability in the forthcoming quarters,” Mr. Liu Xiaobin, CEO said. The company’s stock has a 52-week low of $1.44.
- RSI Value: 20.59
- GURE Price Action: Shares of Gulf Resources fell 4.2% to close at $1.4650 on Tuesday.
- The company’s stock lost around 41% over the past month. The company’s 52-week low is $0.89.
- RSI Value: 24.10
- MGIH Price Action: Shares of Millennium Group International fell 1.4% to close at $0.9660 on Tuesday.
- B of A Securities, last month, downgraded Sibanye Stillwater from Neutral to Underperform. The company has a 52-week low of $4.00.
- RSI Value: 24.44
- SBSW Price Action: Shares of Sibanye Stillwater fell 17.9% to close at $4.27 on Tuesday.
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