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.
Global Gas Corporation (NASDAQ:HGAS)
- The company's stock fell around 28% over the past month and has a 52-week low of $1.80 .
- RSI Value: 28.52
- HGAS Price Action: Shares of Global Gas closed at $2.00 on Monday.
Inno Holdings Inc. (NASDAQ:INHD)
- On Dec. 15, INNO Holdings announced the launch of its revolutionary Mobile Factory. "Our Mobile Factory is a game-changer for remote locations and rapid deployment in disaster-stricken areas. By producing construction materials onsite, we can dramatically reduce the cost and time of transportation, effectively lowering the carbon footprint for larger projects," said Dekui (D.K) Liu, Chief Executive Officer of INNO Holdings. The company's stock fell around 21% over the past month. It has a 52-week low of $0.8620.
- RSI Value: 26.18
- INHD Price Action: Shares of Inno Holdings gained 9.8% to close at $0.9910 on Monday.
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