Oversold stocks in the industrials sector offer an enticing chance to tap into undervalued companies amid the turbulence of the market.
One way to gauge this phenomenon is through the Relative Strength Index (RSI), which compares a stock’s strength on up days versus down days, providing insight into potential short-term performance. When the RSI dips below 30, it typically indicates an asset is oversold.
Star Bulk Carriers Corp (SBLK)
- Star Bulk Carriers is poised to unveil its second-quarter results after the markets close on Wednesday, Aug. 7. The company’s stock has plummeted by approximately 12% over the last month, hitting a 52-week low of $16.86.
- RSI Value: 27.28
- SBLK Price Action: Star Bulk Carriers shares shrank by 3.6%, ending at $21.74 on Thursday.
- Benzinga Pro’s real-time newsfeed provided insights into the latest updates on SBLK.
Symbotic Inc (SYM)
- Symbotic encountered a rough patch with its third-quarter earnings falling short of expectations, followed by a fourth-quarter revenue outlook below estimates. The company’s stock tumbled by approximately 37% over the past five days, hitting a 52-week low of $24.21.
- RSI Value: 26.59
- SYM Price Action: Symbotic’s shares dipped by 8.2%, closing at $24.61 on Thursday.
- Benzinga Pro’s charting tool helped to identify the shifting trends in SYM’s stock.
LYFT Inc (LYFT)
- In a surprising move, Lyft announced the forthcoming departure of President Kristin Sverchek effective Aug. 20. Shares of the company stumbled by around 15% in the past month, reaching a 52-week low of $8.85.
- RSI Value: 25.99
- LYFT Price Action: Lyft’s stock saw a 5.2% decline, closing at $11.42 on Thursday.
- Benzinga Pro’s signals alluded to a potential surge in LYFT shares.
