Top Risk Off Stocks That May Rally

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.

Campbell Soup Company CPB

• Campbell Soup, last month, reported first-quarter FY23 sales growth of 15% year-on-year to $2.58 billion, beating the consensus of $2.45 billion. The company’s stock has a 52-week low of $41.73 .
• RSI Value: 28.44
• CPB Price Action: Shares of Campbell Soup fell 0.4% to settle at $51.40 on Tuesday and rose 0.2% in after-hours trading.

Flowers Foods, Inc. FLO

• Flowers Foods, last month, announced a definitive agreement to acquire Papa Pita Bakery. The company’s stock has a 52-week low of $24.15.
• RSI Value: 27.33
• FLO Price Action: Shares of Flowers Foods fell 0.1% to close at $26.57 on Tuesday and added 0.1% in after-hours trading.

General Mills, Inc. GIS

• General Mills, last month, reported second-quarter FY23 sales growth of 4% year-on-year to $5.22 billion, beating the consensus of $5.19 billion.. The company’s stock has a 52-week low of $61.67.
• RSI Value: 25.15
• GIS Price Action: Shares of General Mills fell 0.5% to close at $77.01 on Tuesday.

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