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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.
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Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
First Guaranty Bancshares Inc (NASDAQ:FGBI)
- First Guaranty Bancshares posted Q4 earnings of $0.42 per share. The company’s stock has a 52-week low of $20.50 .
- RSI Value: 26.79
- FGBI Price Action: Shares of First Guaranty Bancshares fell 0.1% to close at $20.61 on Thursday.
FVCBankcorp Inc (NASDAQ:FVCB)
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- FVCBankcorp posted weaker-than-expected quarterly earnings. The company’s stock has a 52-week low of $13.43.
- RSI Value: 21.14
- FVCB Price Action: Shares of FVCBankcorp fell 0.4% to close at $13.64 on Thursday.
XP Inc (NASDAQ:XP)
- XP recently reported Q4 financial results. The company’s stock has a 52-week low of $12.40.
- RSI Value: 29.13
- XP Price Action: Shares of XP rose 0.5% to close at $13.24 on Thursday and lost 1.7% in after-hours trading.
New York Mortgage Trust Inc (NASDAQ:NYMT)
- New York Mortgage Trust posted a Q4 loss of $0.13 per share. The company’s 52-week low is $2.07.
- RSI Value: 28.64
- NYMT Price Action: Shares of New York Mortgage Trust fell 4.2% to close at $2.73 on Thursday.
Fidelity National Financial Inc (NYSE:FNF)
- Fidelity National Financial reported worse-than-expected Q4 adjusted EPS and sales results. The company has a 52-week low of $33.17.
- RSI Value: 25.71
- FNF Price Action: Shares of Fidelity National Financial dropped 5.7% to close at $39.56 on Thursday.
Read More: Fear & Greed Index Remains In 'Greed' Zone After US Stocks Settle Higher
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.