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, according to Benzinga Pro.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
Archer-Daniels-Midland Company (NYSE:ADM)
- Archer-Daniels-Midland placed its CFO on administrative leave and updated its FY23 outlook on Sunday. Also, the company has appointed Ismael Roig as its interim Chief Financial Officer. The company's stock fell around 26% over the past five days and has a 52-week low of $51.49 .
- RSI Value: 17.23
- ADM Price Action: Shares of Archer-Daniels-Midland dipped 24.2% to close at $51.69 on Monday.
Webuy Global Ltd (NASDAQ:WBUY)
- On Jan. 8, Ohmyhome and Webuy Global announced a strategic collaboration to cross-sell their distinct services in Singapore. Rhonda Wong, CEO and Co-founder of Ohmyhome, said, "This collaboration allows both companies to leverage on our respective broad customer bases, thereby increasing our reach and complementing each other's service offerings centered around homes and communities." The company's stock fell around 18% over the past five days. It has a 52-week low of $0.37.
- RSI Value: 23.38
- WBUY Price Action: Shares of Webuy Global gained 4% to close at $0.3951 on Monday.
AgriFORCE Growing Systems Ltd. (NASDAQ:AGRI)
- On Dec. 20, AgriFORCE Growing Systems filed for an offering of up to 8.72 million shares of common stock by the selling stockholders. The company's stock fell around 16% over the past five days and has a 52-week low of $0.3006.
- RSI Value: 26.41
- AGRI Price Action: Shares of AgriFORCE Growing Systems fell 1.1% to close at $0.31 on Monday.
Elevai Labs, Inc. (NASDAQ:ELAB)
- On Jan 16, Elevai Labs entered into a license agreement with INmune Bio, Inc. The company's shares lost around 70% over the past five days. The company's 52-week low is $0.9410.
- RSI Value: 29.45
- ELAB Price Action: Shares of Elevai Labs gained around 1% to close at $1.03 on Monday.
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