The materials sector presents an opportunity to buy into undervalued companies. The RSI (Relative Strength Index) is a momentum indicator that compares a stock’s strength on up days to its strength on down days. When it drops below 30, it indicates that the stock may be oversold. Here is the current list of major oversold players in this sector.
DuPont de Nemours, Inc. (NYSE: DD)
- On Jan. 24, DuPont announced preliminary fourth-quarter and full year 2023 results and issued first-quarter guidance. The company’s stock fell around 19% over the past month and has a 52-week low of $62.80.
- RSI Value: 19.80
- DD Price Action: Shares of DuPont fell 0.9% to close at $62.95 on Tuesday.
Piedmont Lithium Inc. (NASDAQ: PLL)
- On Jan. 29, TD Cowen downgraded the stock from Outperform to Market Perform. The company’s stock fell around 43% over the past month. It has a 52-week low of $15.86.
- RSI Value: 19.57
- PLL Price Action: Shares of Piedmont Lithium fell 7.6% to close at $15.99 on Tuesday.
Arcadium Lithium plc (NYSE: ALTM)
- On Jan. 29, JP Morgan analyst Jeffrey Zekauskas initiated coverage on Arcadium Lithium with a Neutral rating and announced a price target of $5. The company’s stock fell around 25% over the past month and has a 52-week low of $4.83.
- RSI Value: 18.49
- ALTM Price Action: Shares of Arcadium Lithium fell 5.5% to close at $5.12 on Tuesday.
Global Gas Corporation (NASDAQ: HGAS)
- The company’s shares lost around 16% over the past month. The company’s 52-week low is $2.64.
- RSI Value: 20.88
- HGAS Price Action: Shares of Global Gas closed at $2.85 on Tuesday.
Inno Holdings Inc. (NASDAQ: INHD)
- On Dec. 15, INNO Holdings announced the launch of its revolutionary Mobile Factory. The company’s shares fell around 19% over the past month and has a 52-week low of $0.95.
- RSI Value: 8.09
- INHD Price Action: Shares of Inno Holdings fell 3.4% to close at $1.13 on Tuesday.
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