The most oversold stocks in the consumer discretionary 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.
Levi Strauss & Co LEVI
- On Oct. 28, Levi Strauss & Co. named Dario Aguilar as Managing Director, Latin America. The company’s stock fell around 20% over the past month and has a 52-week low of $13.22.
- RSI Value: 29.15
- LEVI Price Action: Shares of Levi Strauss fell 0.8% to close at $17.39 on Tuesday.
- Benzinga Pro’s real-time newsfeed alerted to latest LEVI news.
Mohawk Industries Inc MHK
- On Oct. 24, Mohawk Industries reported better-than-expected results for its third quarter. The company posted quarterly earnings of $2.90 per share which beat the analyst consensus estimate of $2.89 per share. The company reported quarterly sales of $2.719 billion which beat the analyst consensus estimate of $2.700 billion. The company’s stock fell around 13% over the past five days and has a 52-week low of $76.35.
- RSI Value: 29.10
- MHK Price Action: Shares of Mohawk Industries gained 0.5% to close at $132.41 on Tuesday.
- Benzinga Pro’s charting tool helped identify the trend in MHK stock.
Wayfair Inc W
- On Oct. 28, Wedbush analyst Seth Basham maintained Wayfair with an Outperform and lowered the price target from $60 to $50. The company’s stock fell around 24% over the past month and has a 52-week low of $38.02.
- RSI Value: 29.10
- W Price Action: Shares of Wayfair fell 3.3% to close at $42.96 on Tuesday.
- Benzinga Pro’s signals feature notified of a potential breakout in Wayfair shares.
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