Top 4 Risk Off Stocks That May Explode This Quarter

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.

Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.

22nd Century Group, Inc. XXII

• 22nd Century recently announced a $3 million registered direct offering priced above the market. The company’s stock has a 52-week low of $2.19 .
• RSI Value: 22.19
• XXII Price Action: Shares of 22nd Century gained 8.9% to close at $2.45 on Thursday.

General Mills, Inc. GIS

• General Mills reported fourth-quarter FY23 sales growth of 3% year-on-year to $5.03 billion, missing the analyst consensus of $5.17 billion. General Mills Chairman and CEO Jeff Harmening said, "Led by our Accelerate strategy, our team successfully navigated a highly dynamic operating environment with agility, focus, and resilience." It has a 52-week low of $72.16.
• RSI Value: 23.66
• GIS Price Action: Shares of General Mills fell 0.2% to close at $74.79 on Thursday.

The Hershey Company HSY

• JP Morgan recently maintained Hershey with a Neutral and lowered the price target from $252 to $249. The company’s stock has a 52-week low of $211.49.
• RSI Value: 22.44
• HSY Price Action: Shares of Hershey fell 0.1% to close at $238.48 on Thursday.

Smart for Life, Inc. SMFL

• Smart For Life, last month, received notification letter from Nasdaq notifying company it has regained compliance with requirements to be listed on Nasdaq. The company’s 52-week low is $0.67.
• RSI Value: 25.65
• SMFL Price Action: Shares of Smart for Life fell 2.1% to close at $0.6990 on Thursday.

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