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.
Inter & Co Inc (NASDAQ:INTR)
- On Nov. 14, Inter & Co posted better-than-expected quarterly sales. “We had a solid third quarter, reporting increased profitability and growth in both fee and interest income. Our focus on executing the 60/30/30 plan by increasing market share and product penetration, while we maintain efficiency gains is paying off.” The company's stock fell around 29% over the past month and has a 52-week low of $4.32.
- RSI Value: 19.97
- INTR Price Action: Shares of Inter fell 1.3% to close at $4.56 on Monday.
- Benzinga Pro's real-time newsfeed alerted to latest INTR news.
Nu Holdings Ltd (NYSE:NU)
- On Dec. 2, Citigroup downgraded its rating from Neutral to Sell on the stock and lowered its price target from $14.6 to $11. The company's stock fell around 14% over the past five days and has a 52-week low of $8.06.
- RSI Value: 26.71
- NU Price Action: Shares of Nu Holdings fell 4.2% to close at $12.00 on Monday.
- Benzinga Pro’s charting tool helped identify the trend in NU stock.
AppTech Payments Corp (NASDAQ:APCX)
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