The most oversold stocks in the financials 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.
Highest Performances Holdings Inc (NASDAQ:HPH)
- On May 30, Highest Performances Holdings posted 1H 2024 revenue of $5 million. Mr. Yinan Hu, Chief Executive Officer of HPH, commented, "In the first half of the fiscal year 2024, despite economic downturn and market uncertainties, we made positive progress in both retail and institutional fronts." The company's stock fell around 61% over the past month and has a 52-week low of $1.70.
- RSI Value: 25.14
- HPH Price Action: Shares of Highest Performances Holdings gained 2.5% to close at $2.03 on Friday.
- Benzinga Pro's real-time newsfeed alerted to latest HPH news.
Katapult Holdings Inc (NASDAQ:KPLT)
- On Aug. 22, Katapult promoted Derek Medlin to President and Chief Growth Officer. "Derek has been a terrific partner to me over the past seven years and I am excited to expand his role at this critical juncture in our growth cycle," said Orlando Zayas, CEO of Katapult. The company's stock fell around 41% over the past month. It has a 52-week low of $8.26.
- RSI Value: 27.04
- KPLT Price Action: Shares of Katapult fell 0.3% to close at $11.65 on Friday.
- Benzinga Pro's charting tool helped identify the trend in KPLT stock.
DigiAsia Corp (NASDAQ:FAAS)
- On Aug. 20, DigiAsia named Andreas Gregori to its AI Strategic Advisory Board. The company's shares fell around 66% over the past month and has a 52-week low of $0.96.
- RSI Value: 25.12
- FAAS Price Action: Shares of DigiAsia fell 14.2% to close at $0.97 on Friday.
- Benzinga Pro's signals feature notified of a potential breakout in FAAS shares.
Read More:
- Jim Cramer Praises L3Harris Technologies, Says Intel Is 'Getting Whacked' By AMD: 'I Much Prefer...'
