Top 5 Defensive Stocks Which Could Rescue Your Portfolio This Month
The most oversold stocks in the consumer staples sector present an opportunity to buy into undervalued companies.
The Relative Strength Index (RSI) is a momentum indicator that compares a stock’s strength on days when prices go up to its strength on days when prices go down. It provides traders with a better sense of how a stock may perform in the short term. An asset is considered oversold when the RSI is below 30.
Here’s the latest list of major oversold players in this sector, with an RSI near or below 30:
Bruush Oral Care Inc. (NASDAQ: BRSH)
- Brüush recently announced pricing of $5.0 million private placement. The company’s stock has a 52-week low of $0.28.
- RSI Value: 21.32
- BRSH Price Action: Shares of Bruush Oral Care fell 8.9% to close at $0.2850 on Monday.
Oatly Group AB (NASDAQ: OTLY)
- Oatly Group is scheduled to report financial results for the third quarter ended Sept. 30, 2023, on Nov. 9, 2023, before the opening bell. It has a 52-week low of $0.44.
- RSI Value: 19.06
- OTLY Price Action: Shares of Oatly Group gained 5% to close at $0.4774 on Monday.
The Estée Lauder Companies Inc. (NYSE: EL)
- The Estée Lauder is expected to release its fiscal 2024 first-quarter results on Nov. 1, 2023. The company’s stock has a 52-week low of $123.64.
- RSI Value: 28.35
- EL Price Action: Shares of Estée Lauder gained 2.8% to close at $127.97 on Monday.
Rocky Mountain Chocolate Factory, Inc. (NASDAQ: RMCF)
- Rocky Mountain Chocolate posted a second-quarter loss of 16 cents per share. “We continue to execute against the pillars of our Strategic Transformation Plan to establish Rocky Mountain Chocolate as America’s preferred premium chocolate company,” said Rob Sarlls, CEO of RMC. The company’s 52-week low is $3.88.
- RSI Value: 22.68
- RMCF Price Action: Shares of Rocky Mountain Chocolate Factory fell 1.5% to close at $3.94 on Monday.
Beyond Meat, Inc. (NASDAQ: BYND)
- Mizuho analyst John Baumgartner downgraded Beyond Meat from a Neutral rating to an Underperform rating and cut the price target from $12 to $5. The company has a 52-week low of $5.58.
- RSI Value: 25.70
- BYND Price Action: Shares of Beyond Meat fell 1.5% to close at $5.88 on Monday.
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