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.
The Real Good Food Company, Inc. (NASDAQ:RGF)
- Real Good Foods announced launch of new Enchiladas in Sam's Club nationwide. The company's stock has a 52-week low of $5.50 .
- RSI Value: 29.51
- RGF Price Action: Shares of Real Good Food fell 3% to settle at $5.53 on Tuesday and added 4.9% in after-hours trading.
Local Bounti Corporation (NYSE:LOCL)
- Local Bounti, during November, posted a Q3 loss of $0.30 per share. The company's stock has a 52-week low of $0.8850.
- RSI Value: 29.13
- LOCL Price Action: Shares of Local Bounti fell 1.1% to close at $0.9598 on Tuesday and added 3.5% in after-hours trading.
Arcadia Biosciences, Inc. (NASDAQ:RKDA)
- Arcadia Biosciences recently announced CFO transition. The company's stock has a 52-week low of $0.20.
- RSI Value: 29.31
- RKDA Price Action: Shares of Arcadia Biosciences fell 17.4% to close at $0.2597 on Tuesday and added 0.2% in after-hours trading.
Smart for Life, Inc. (NASDAQ:SMFL)
- Smart For Life announced the launch of greens first protein bars. The company's 52-week low is $0.1750.
- RSI Value: 24.01
- SMFL Price Action: Shares of Smart for Life fell 20.2% to close at $0.1756 on Tuesday and added 2.5% in after-hours trading.
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