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.
Global Payments Inc. (NYSE:GPN)
- On May 1, Global Payments reported quarterly adjusted earnings per share of $2.59, beating the street view of $2.57. The company continues to expect FY24 adjusted net revenue of $9.17 billion-$9.30 billion versus the $9.24 estimate, reflecting growth of 6% to 7%. The company's stock fell around 11% over the past five days and has a 52-week low of $95.12 .
- RSI Value: 27.26
- GPN Price Action: Shares of Global Payments rose 0.8% to close at $111.37 on Friday.
Aon plc (NYSE:AON)
- On April 26, Aon reported worse-than-expected first-quarter financial results. "Our global team delivered strong operating results in the first quarter, including 5% organic revenue growth, 100 basis points of adjusted operating margin improvement, and 9% adjusted EPS growth" said Greg Case, Chief Executive Officer. The company's stock fell around 12% over the past month. It has a 52-week low of $268.06.
- RSI Value: 22.82
- AON Price Action: Shares of Aon fell 0.04% to close at $279.97 on Friday.
Flywire Corporation (NASDAQ:FLYW)
- Flywire is expected to announce first quarter 2024 results on May 7. The company's shares fell around 15% over the past month and has a 52-week low of $18.65.
- RSI Value: 29.52
- FLYW Price Action: Shares of Flywire fell 2.2% to close at $19.81 on Friday.
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