Spotlight on Oversold Stocks: Materials Sector Offers Potential Bargains

Investors may find opportunities in the materials sector as several stocks show significant signs of being oversold.

The Relative Strength Index (RSI) is a key tool used to evaluate a stock’s performance. It compares the number of days a stock price rises versus days it falls. A stock is generally deemed oversold when its RSI is below 30, indicating it may be undervalued according to analysis from Benzinga Pro.

Here are some notable stocks within the materials sector that are currently reporting RSI values near or below 30.

Aspen Aerogels Inc ASPN

• On November 6, Aspen Aerogels announced better-than-expected revenue for the third quarter. Despite this, the stock has seen a decline of about 31% in the last month, reaching a 52-week low of $10.31.
• RSI Value: 26.83
• ASPN Price Action: Shares of Aspen Aerogels rose 0.1%, closing at $14.00 on Thursday.
• Benzinga Pro’s real-time newsfeed provided updates on ASPN’s latest developments.

Braskem SA ADR BAK

• UBS upgraded Braskem’s stock from Neutral to Buy on September 18, raising the price target from $7.70 to $10. However, the stock has fallen roughly 36% in the past month and has reached a 52-week low of $64.98.
• RSI Value: 18.13
• BAK Price Action: Shares of Braskem decreased by 2.4%, finishing at $4.96 on Wednesday.
• Benzinga Pro’s charting tool identified the current trend for BAK stocks.

TMC The Metals Company Inc TMC

• TMC reported a loss of six cents per share for the third quarter on November 14. CEO Gerard Barron announced an upcoming application to the International Seabed Authority for exploiting resources, marking a significant step for the company. TMC’s stock has decreased around 13% in the last month, also setting a 52-week low of $0.80.
• RSI Value: 28.06
• TMC Price Action: TMC shares fell by 2.1%, closing at $0.88 on Thursday.
• Benzinga Pro’s system highlighted potential breakout opportunities for TMC shares.

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