27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
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.
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Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Tesla, Inc. (NASDAQ:TSLA)
- Tesla, Inc increased the discount on all Model 3 and Model Y vehicles delivered in the U.S. in December from $3,750 to $7,500. The company’s stock has a 52-week low of $122.26 .
- RSI Value: 22.65
- TSLA Price Action: Shares of Tesla dropped 8.9% to settle at $125.35 on Thursday, but added 2% in today’s pre-market trading session.
Rivian Automotive Inc (NASDAQ:RIVN)
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- Mizuho recently maintained Rivian Automotive with a Buy and lowered the price target from $58 to $50. The company’s stock has a 52-week low of $18.93.
- RSI Value: 24.72
- RIVN Price Action: Shares of Rivian Automotive dropped 6.2% to close at $19.73 on Thursday and lost 0.2% in after-hours trading.
Ford Motor Company (NYSE:F)
- Ford recently raised the price of its F-150 Lightning truck due to rising material costs, market factors and supply chain constraints. The company’s stock has a 52-week low of $10.61.
- RSI Value: 28.44
- F Price Action: Shares of Ford Motor fell 4% to close at $11.31 on Thursday and dropped 0.2% in after-hours trading.
Lucid Group, Inc. (NASDAQ:LCID)
- Lucid Group recently announced a successful capital raise of approximately $1.515 billion. The company’s 52-week low is $6.63.
- RSI Value: 20.86
- LCID Price Action: Shares of Lucid Group dropped 4% to close at $6.89 on Thursday, but added 0.3% in today’s pre-market trading.
QuantumScape Corporation (NYSE:QS)
- QuantumScape recently announced it shipped its first 24-layer prototype lithium-metal battery cells to automotive OEMs for testing. The company has a 52-week low of $5.41.
- RSI Value: 29.48
- QS Price Action: Shares of QuantumScape fell 2.8% to settle at $5.64 on Thursday, and added 0.5% in today’s pre-market trading.
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27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.