TX - Top 5 Materials Stocks That Could Blast Off In June | Benzinga
The most oversold stocks in the materials 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.
Steel Dynamics Inc (NASDAQ:STLD)
- On May 20, Jefferies analyst Christopher LeFemina initiated coverage on Steel Dynamics with a Hold rating and announced a price target of $150. The company's stock fell around 6% over the past five days and has a 52-week low of $95.52.
- RSI Value: 29.89
- STLD Price Action: Shares of Steel Dynamics fell 2.2% to close at $125.52 on Friday.
- Benzinga Pro's real-time newsfeed alerted to latest Steel Dynamics news.