The most oversold stocks in the real estate 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.
Franklin Street Properties Corp. FSP
- Franklin Street Properties posted Q4 EPS of $0.10. George J. Carter, Chairman and Chief Executive Officer, said, "As the first quarter of 2023 begins, we continue to believe that the current price of our common stock does not accurately reflect the value of our underlying real estate assets." The company’s stock has a 52-week low of $1.51 .
- RSI Value: 25.80
- FSP Price Action: Shares of Franklin Street Properties fell 0.6% to close at $1.56 on Monday.
Trinity Place Holdings Inc. TPHS
- Trinity Place Holdings recently issued an update on its ongoing review of potential strategic alternatives. The company’s stock has a 52-week low of $0.4188.
- RSI Value: 27.96
- TPHS Price Action: Shares of Trinity Place Holdings fell 6.3% to close at $0.4496 on Monday.
FLJ Group Limited FLJ
- FLJ Group recently filed its annual report on Form 20-F for the fiscal year ended Sept. 30, 2022 with the Securities and Exchange Commission. The company’s stock has a 52-week low of $0.6010.
- RSI Value: 29.86
- FLJ Price Action: Shares of FLJ Group gained 1.7% to close at $0.7437 on Monday.
Read More: Fear & Greed Index Moves To 'Greed' Zone As Dow Jumps Over 300 Points
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