20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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.
Inno Holdings Inc. (NASDAQ:INHD)
- On Dec. 15, INNO Holdings announced the launch of its revolutionary Mobile Factory. "Our Mobile Factory is a game-changer for remote locations and rapid deployment in disaster-stricken areas. By producing construction materials onsite, we can dramatically reduce the cost and time of transportation, effectively lowering the carbon footprint for larger projects," said Dekui (D.K) Liu, Chief Executive Officer of INNO Holdings. The company’s stock fell around 35% over the past month and has a 52-week low of $0.6110 .
- RSI Value: 22.64
- INHD Price Action: Shares of Inno Holdings gained 2.1% to close at $0.6282 on Thursday.
RPM International Inc. (NYSE:RPM)
- On April 4, RPM International reported third-quarter FY24 results. Sales rose 0.4% Y/Y to $1.523 billion, slightly beating the consensus of $1.518 billion. Adjusted EPS of 52 cents exceeded the consensus of 46 cents. The company’s stock fell around 7% over the past five days. It has a 52-week low of $78.52.
- RSI Value: 28.47
- RPM Price Action: Shares of RPM fell 5.8% to close at $111.69 on Thursday.
Crown ElectroKinetics Corp. (NASDAQ:CRKN)
- On April 1, Crown ElectroKinetics posted a narrower loss for the fourth quarter. The company’s stock fell around 17% over the past five days and has a 52-week low of $0.0460.
- RSI Value: 22.13
- CRKN Price Action: Shares of Crown ElectroKinetics fell 1.2% to close at $0.0489 on Thursday.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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