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.
Tantech Holdings Ltd (NASDAQ:TANH)
- On June 17, Tantech Holdings regained compliance with the Nasdaq. The company's stock fell around 76% over the past month and has a 52-week low of $0.12.
- RSI Value: 16.88
- TANH Price Action: Shares of Tantech gained 5.6% to close at $0.13 on Tuesday.
- Benzinga Pro's real-time newsfeed alerted to latest TANH news.
N2OFF Inc (NASDAQ:NITO)
- On Aug. 20, N2OFF announced its plan to utilize its subsidiary, Save Foods, patented treatment to extend shelf life of certain fruits and vegetables to pursue monetizing the quantification of emission reductions by keeping food in the human supply chain. The company's stock fell around 38% over the past month. It has a 52-week low of $0.29
- RSI Value: 28.60
- NITO Price Action: Shares of N2OFF fell 6.9% to close at $0.31 on Tuesday.
- Benzinga Pro's charting tool helped identify the trend in NITO stock.
Scully Royalty Ltd (NYSE:SRL)
- On Aug. 2, Scully Royalty announced the passing of Director Indrajit Chatterjee. The company's shares fell around 20% over the past five years and has a 52-week low of $3.71.
- RSI Value: 28.37
- SRL Price Action: Shares of Scully Royalty fell 0.3% to close at $8.03 on Tuesday.
- Benzinga Pro's signals feature notified of a potential breakout in SRL shares.
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