Top 2 Materials Stocks That Could Blast Off This Quarter - Tronox Holdings (NYSE:TROX), Brazil Potash (AMEX:GRO)

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.

Brazil Potash Corp GRO

On Jan. 16, Brazil Potash signed a memorandum of understanding with Keytrade AG for up to one million tons of potash offtake per year. “This MOU with Keytrade represents another important step towards Brazil Potash’s development and validates our strategic position in Brazil as a potential premier domestic potash supplier,” said Adriano Espeschit, President of Potassio do Brasil. The company’s stock fell around 52% over the past month and has a 52-week low of $2.18.
RSI Value: 27.9
GRO Price Action: Shares of Brazil Potash gained 7.5% to close at $2.58 on Tuesday.
Benzinga Pro’s real-time newsfeed alerted to latest GRO news.

Tronox Holdings PLC TROX

On Feb. 19, Tronox Holdings announced the appointment of Julie Beck to the Board of Directors effective March 1. “We are pleased to welcome Julie to the Tronox Board,” said Ilan Kaufthal, chairman of Tronox. “Julie’s finance and accounting expertise, senior leadership roles, demonstrated business acumen and experience in several relevant industrial and manufacturing sectors will be valuable assets to the Board and its stakeholders.” The company’s stock fell around 22% over the past month and has a 52-week low of $7.72.
RSI Value: 28
TROX Price Action: Shares of Tronox fell 1.6% to close at $7.86 on Tuesday.
Benzinga Pro’s charting tool helped identify the trend in TROX stock.

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