The most oversold stocks in the financial 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.
Globe Life Inc. (NYSE:GL)
- Globe Life is expected to release first quarter earnings after the closing bell on April 22, 2024. The company's stock fell around 42% over the past month and has a 52-week low of $38.95.
- RSI Value: 29.92
- GL Price Action: Shares of Globe Life gained 2.7% to close at $66.74 on Friday.
PagSeguro Digital Ltd. (NYSE:PAGS)
- On March 26, Evercore ISI Group upgraded the stock from In-Line to Outperform and raised its price target from $12 to $18. The company's stock fell around 18% over the past month. It has a 52-week low of $6.93.
- RSI Value: 26.71
- PAGS Price Action: Shares of PagSeguro Digital fell 0.6% to close at $11.48 on Friday.
XP Inc. (NASDAQ:XP)
- On Feb. 27, XP reported fourth quarter 2023 results and announced a new share repurchase program of up to 2.5 million shares. The company's stock fell around 9% over the past five days and has a 52-week low of $12.78.
- RSI Value: 21.85
- XP Price Action: Shares of XP fell 0.2% to close at $21.02 on Friday.
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