The most oversold stocks in the industrials 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.
Addentax Group Corp. (NASDAQ:ATXG)
- On Jan. 4, 2023, Addentax Group entered into a securities purchase agreement with certain accredited investors, pursuant to which the company received a net proceed of $15 million. The company's stock has a 52-week low of $0.9750 .
- RSI Value: 29.12
- ATXG Price Action: Shares of Addentax Group fell 4.5% to settle at $1.50 on Friday and added 4.7% in after-hours trading.
Vertical Aerospace Ltd. (NYSE:EVTL)
- Vertical Aerospace named John Martin as Finance Chief. The company's stock has a 52-week low of $2.10.
- RSI Value: 27.33
- EVTL Price Action: Shares of Vertical Aerospace rose 2.4% to close at $2.17 on Friday and added 1.4% in after-hours trading.
Caravelle International Group (NASDAQ:CACO)
- Caravelle International Group announced preliminary record-breaking financials for 2022. The company's stock has a 52-week low of $0.95.
- RSI Value: 23.21
- CACO Price Action: Shares of Caravelle International fell 1.9% to close at $1.53 on Friday and lost 0.7% in after-hours trading.
Getaround, Inc. (NYSE:GETR)
- Wedbush recently initiated coverage on the stock with an Outperform rating and a $5 price target. The company's 52-week low is $0.4990.
- RSI Value: 17.87
- GETR Price Action: Shares of Getaround rose 0.1% to close at $0.6392 on Friday and added 1.5% in after-hours trading.
Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN)
- The company's stock dropped around 24% over the past month. The company has a 52-week low of $13.53.
- RSI Value: 19.85
- GRIN Price Action: Shares of Grindrod Shipping gained 2.7% to close at $14.26 on Friday.
Read More: Fear & Greed Index Remains In 'Greed' Zone As Nasdaq Record Gains For Fourth Straight Week