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.

Suzano S.A. (NYSE:SUZ)

• On May 9, Suzano posted a decline in quarterly sales.The company's stock fell around 11% over the past five days and has a 52-week low of $8.35 .
• RSI Value: 22.80
• SUZ Price Action: Shares of Suzano closed at $10.36 on Thursday.

Nature Wood Group Limited (NASDAQ:NWGL)

• On March 4, Nature Wood Group announced its guidance for the fiscal year 2024. "We are excited to see the positive impact of the new EU regulations on our business," said Mr. Jianjun Zeng, the chief executive officer of Nature Wood. "Our commitment to sustainable forestry practices and FSC certification has given us a competitive advantage in the market, and we are confident that we can continue to deliver high-quality, eco-friendly products to our customers." The company's stock fell around 82% over the past month. It has a 52-week low of $2.55.
• RSI Value: 19.16
• NWGL Price Action: Shares of Nature Wood Group fell 0.4% to close at $2.63 on Thursday.

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