The most oversold stocks in the industrials 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.
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Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
Nikola Corp NKLA
- On Aug. 19, Nikola announced it entered into a securities purchase agreement and filed for a mixed shelf offering. The company's stock fell around 35% over the past month and has a 52-week low of $4.78.
- RSI Value: 26.27
- NKLA Price Action: Shares of Nikola fell 5% to close at $4.78 on Monday.
- Benzinga Pro's real-time newsfeed alerted to latest NKLA news.
SES AI Corp SES
- On Sept. 17, SES AI announced a collaboration with NVIDIA, Crusoe and Supermicro on AI for scientific initiative to accelerate material discovery in electric transportation. “AI is changing everything. Our AI for Manufacturing, AI for Safety, and AI for Science models are accelerating the commercialization, time to revenue, and profitability of Li-Metal for EV and UAM,” said Qichao Hu, CEO of SES AI. The company's stock fell around 48% over the past five days. It has a 52-week low of $0.66.
- RSI Value: 21.33
- SES Price Action: Shares of SES fell 13.4% to close at $0.66 on Monday.
- Benzinga Pro’s charting tool helped identify the trend in SES stock.
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Flyexclusive Inc FLYX
- On Sept. 4, Volato Group, Inc. SOAR disclosed an agreement with flyExclusive, Inc. to transition the management of its fleet operations to flyExclusive.. The company's shares fell around 41% over the past five days and has a 52-week low of $2.29.
- RSI Value: 18.61
- FLYX Price Action: Shares of Flyexclusive fell 33.6% to close at $2.29 on Monday.
- Benzinga Pro’s signals feature notified of a potential breakout in FLYX shares.
Jet.AI Inc JTAI
- On Aug. 19, Jet.AI disclosed that Executive Chairman and Interim CEO Michael Winston Exchanged 4,076,288 Merger Consideration Warrants For 4,130,503 Shares Of Common Stock.. The company's shares lost around 45% over the past month. The company's 52-week low is $0.10.
- RSI Value: 24.74
- JTAI Price Action: Shares of Jet.AI fell 4.5% to close at $0.11 on Monday.
- Benzinga Pro's earnings calendar was used to track upcoming JTAI earnings reports.
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