Top 5 Industrials Stocks That May Explode In Q2

The most oversold stocks in the industrials 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.

Forrester Research, Inc. FORR

  • Forrester Research reported worse-than-expected Q1 adjusted EPS and sales results. CEO and Chairman George Colony said, "The first quarter was difficult for Forrester. The unsteady economy, along with our ongoing product transformation, constitute ongoing challenges for our business. Consequently, we are taking actions to maintain our margins by reducing our cost structure to align with our expected revenue." The company’s stock has a 52-week low of $22.62 .
  • RSI Value: 19.65
  • FORR Price Action: Shares of Forrester Research fell 2.1% to close at $25.38 on Thursday.

Paylocity Holding Corporation PCTY

  • Paylocity reported Q3 financial results and issued guidance. “Our overall momentum continued in the third quarter, with Q3 recurring & other revenue growth of 28% and total revenue growth of 38%, as our differentiated value proposition of providing the most modern software in the industry continues to resonate in the marketplace,” said Steve Beauchamp, Co-Chief Executive Officer of Paylocity. The company’s stock has a 52-week low of $152.01.
  • RSI Value: 26.30
  • PCTY Price Action: Shares of Paylocity fell 2% to close at $165.20 on Thursday.

Upwork Inc. UPWK

  • Upwork issued weak revenue guidance. The company’s stock has a 52-week low of $6.56.
  • RSI Value: 22.98
  • UPWK Price Action: Shares of Upwork fell 3.5% to close at $7.77 on Thursday.

Exponent, Inc. EXPO

  • Exponent posted better-than-expected results for the first quarter. “Exponent had a solid start to the year, growing revenues by over 9% on a year-over-year basis. This is a testament to the strength and resiliency of our business model, which is built upon a highly diversified portfolio of critical and integrated services,” commented Dr. Catherine Corrigan, President and Chief Executive Officer. The company’s 52-week low is $80.97.
  • RSI Value: 24.27
  • EXPO Price Action: Shares of Exponent fell 1.8% to close at $86.44 on Thursday.

Fluor Corporation FLR

  • Fluor reported a first-quarter FY23 revenue growth of 20% year-over-year to $3.75 billion, beating the consensus of $3.55 billion. "The underlying performance of our healthy backlog continues to be impacted by a few remaining legacy projects," said David Constable, chairman and chief executive officer of Fluor. The company has a 52-week low of $21.68.
  • RSI Value: 24.11
  • FLR Price Action: Shares of Fluor fell 1.7% to close at $26.46 on Thursday.

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