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, according to Benzinga Pro.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Alight Inc (NYSE:ALIT)
- On Jan. 8, Keybanc analyst Scott Schoenhaus maintained Alight with an Overweight rating and lowered the price target from $6 to $2.5. The company’s stock fell around 20% over the past month and has a 52-week low of $1.52.
- RSI Value: 29.4
- ALIT Price Action: Shares of Alight rose 2% to close at $1.56 on Wednesday.
CLARIVATE PLC (NYSE:CLVT)
- On Jan. 8, Goldman Sachs analyst George Tong downgraded Clarivate from Buy to Neutral and cut the price target from $4.2 to $3.6. The company’s stock fell around 19% over the past month and has a 52-week low of $2.78.
- RSI Value: 29
- CLVT Price Action: Shares of CLARIVATE fell 3.8% to close at $2.81 on Tuesday.
- Edge Stock Ratings: 5.43 Momentum score.
CBIZ Inc (NYSE:CBZ)
- On Jan. 12, Deutsche Bank analyst Faiza Alwy initiated coverage on CBIZ with a Hold rating and announced a price target of $60. The company’s stock fell around 16% over the past five days and has a 52-week low of $44.81.
- RSI Value: 27.6
- CBZ Price Action: Shares of CBIZ dipped 2.6% to close at $44.97 on Wednesday.
- Benzinga Pro’s signals feature notified of a potential breakout in CBZ 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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