Top 3 Consumer Stocks That Could Lead To Your Biggest Gains This Month

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.

Rivian Automotive Inc (NASDAQ:RIVN)

• On Oct. 14, Rivian and Redwood Materials announced expansion of partnership to span the lifecycle of the battery. “Giving Rivian battery packs a second life in stationary storage is a massive unlock for the energy transition,” said RJ Scaringe, Rivian Founder and CEO. “By partnering with JB and the Redwood team, we’re turning retired EV batteries into a powerful tool to make the grid more reliable and lower energy costs for everyone.” The company’s stock fell around 17% over the past month and has a 52-week low of $12.39.
• RSI Value: 25
• RIVN Price Action: Shares of Rivian Automotive fell 3.1% to close at $12.95 on Wednesday.
• Edge Stock Ratings: 17.13 Momentum score.

Wynn Resorts Ltd (NASDAQ:WYNN)    

• On Oct. 12, Citigroup analyst James Hardiman maintained Wynn Resorts with a Buy and lowered the price target from $135 to $103. The company’s stock fell around 15% over the past month and has a 52-week low of $73.07.
• RSI Value: 25.3
• WYNN Price Action: Shares of Wynn Resorts fell 2.6% to close at $73.73 on Wednesday.
• Benzinga Pro’s charting tool helped identify the trend in WYNN stock.

MGM Resorts International (NYSE:MGM)

• On Oct. 12, Citigroup analyst James Hardiman maintained MGM Resorts with a Neutral and lowered the price target from $48 to $32. The company’s stock fell around 26% over the past month and has a 52-week low of $28.72.
• RSI Value: 13.5
• MGM Price Action: Shares of MGM Resorts fell 1.5% to close at $28.96 on Wednesday.
• Benzinga Pro’s signals feature notified of a potential breakout in MGM shares.

Learn more about BZ Edge Rankings—click to see scores for other stocks in the sector and see how they compare.

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