Top 3 Defensive Stocks That Could Lead To Your Biggest Gains In August

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.

Kimberly-Clark Corporation KMB

• Kimberly-Clark Corp reported second-quarter FY23 sales growth of 1% year-on-year to $5.1 billion, missing the analyst consensus estimate of $5.13 billion. "We delivered another quarter of strong organic sales growth and gross margin expansion," said Chairman and CEO Mike Hsu. "Our growth strategy is working, and given the strength of our first-half results, we're raising our full-year outlook." The company’s stock has a 52-week low of $108.74 .
• RSI Value: 27.08
• KMB Price Action: Shares of Kimberly-Clark fell 1% to close at $129.10 on Monday.

Kenvue Inc. KVUE

• Kenvue posted better-than-expected second-quarter results. "Our second quarter results mark a strong debut for Kenvue, reflecting the strength of our portfolio of iconic brands, the agility of our operating model and the strong execution of our 22,000 team members while navigating a dynamic environment," said Thibaut Mongon, Chief Executive Officer and Director. It has a 52-week low of $22.49.
• RSI Value: 29.27
• KVUE Price Action: Shares of Kenvue fell 3% to close at $23.68 on Monday.

The Hershey Company HSY

• Hershey reported second-quarter FY23 sales growth of 5%year-on-year to $2.49 billion, marginally missing the consensus of $2.50 billion. "Our categories continue to perform well as consumer demand for great tasting snacks remains resilient across the globe," said President and CEO Michele Buck. The company’s stock has a 52-week low of $211.49.
• RSI Value: 24.13
• HSY Price Action: Shares of Hershey fell 1.8% to close at $231.31 on Monday.

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