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.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Selina Hospitality PLC SLNA
- EF Hutton initiated coverage on Selina Hospitality with a Buy rating and announced a price target of $6.5. The company’s stock has a 52-week low of $2.50 .
- RSI Value: 12.60
- SLNA Price Action: Shares of Selina Hospitality gained 0.7% to settle at $2.73 on Tuesday and added 5.1% in after-hours trading.
Kura Sushi USA, Inc. KRUS
- Kura Sushi USA recently filed mixed shelf of up to $125 million. The company’s stock has a 52-week low of $30.95.
- RSI Value: 25.76
- KRUS Price Action: Shares of Kura Sushi USA slipped 0.8% to close at $47.30 on Tuesday.
Shake Shack Inc. SHAK
- Wedbush recently downgraded Shake Shack from Outperform to Neutral and lowered the price target from $58 to $49. The company’s stock has a 52-week low of $37.72.
- RSI Value: 28.95
- SHAK Price Action: Shares of Shake Shack gained 0.4% to close at $41.68 on Tuesday and lost 2.8% in after-hours trading.
Tesla, Inc. TSLA
- Tesla reported Q4 delivery numbers below consensus estimates. The company’s 52-week low is $104.65.
- RSI Value: 26.20
- TSLA Price Action: Shares of Tesla dropped 12.2% to close at $108.10 on Tuesday, and added 1.6% in today’s pre-market trading.
Rivian Automotive, Inc. RIVN
- Rivian said it produced 10,020 vehicles in the fourth quarter. The company has a 52-week low of $17.08.
- RSI Value: 24.38
- RIVN Price Action: Shares of Rivian Automotive fell 5.9% to close at $17.34 on Tuesday and lost 0.4% in after-hours trading.
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