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.
ReTo Eco-Solutions, Inc. RETO
- On Oct. 18, ReTo received Nasdaq notification on minimum bid price deficiency. The company’s stock fell around 38% over the past month and has a 52-week low of $0.36 .
- RSI Value: 26.55
- RETO Price Action: Shares of ReTo Eco-Solutions gained 3.1% to close at $0.3898 on Wednesday.
Tantech Holdings Ltd TANH
- On Aug. 28, Tantech secured a major contract to supply 50 midibuses to Malaysia. The company’s stock fell around 31% over the past five days. It has a 52-week low of $0.8290.
- RSI Value: 28.38
- TANH Price Action: Shares of Tantech Holdings fell 5.5% to close at $1.3701 on Wednesday.
CN Energy Group. Inc. CNEY
- On Sept. 7, CN Energy Group said its wholly-owned subsidiary, Hangzhou Fulaisen Science and Technology Co., Ltd, secured activated carbon order for $1.64 million. Ms. Xinyang Wang, CNEY's Board Chairwoman, commented, "We appreciate the trust of our clientele. We have guaranteed the timely fulfillment of the order, in addition to providing high-performance and reputable activated carbon commodities, along with professional and comprehensive after-sales service." The company’s stock fell around 31% over the past five days and has a 52-week low of $0.0613.
- RSI Value: 22.90
- CNEY Price Action: Shares of CN Energy fell 19.5% to close at $0.0693 on Wednesday.
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