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The most oversold stocks in the consumer staples 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.
Target Corp (NYSE:TGT)
- On March 4, the company reported a fourth-quarter sales decline of 3.1% year-on-year to $30.91 billion, beating the analyst consensus estimate of $30.84 billion. “Our team grew traffic and delivered better-than-expected sales and profitability in our biggest quarter of the year,” said …
