Top 3 Consumer Stocks That Are Set To Fly In October

The most oversold stocks in the consumer discretionary 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.

Charles & Colvard, Ltd. CTHR

• Charles & Colvard posted a fourth-quarter loss of 30 cents per share. "While the challenging macroeconomic backdrop and weakened consumer outlook created significant headwinds on the jewelry and gemstone industry, and on the Company's Q4 and fiscal year 2023 revenues, the Company's cash position remained strong at $15.6 million," said Don O'Connell, President and CEO of the Company. The company’s stock has a 52-week low of $0.3750 .
• RSI Value: 21.26
• CTHR Price Action: Shares of Charles & Colvard fell 28.7% to close at $0.4081 on Friday.

GoPro, Inc. GPRO

• GoPro is expected to release its financial results for the third quarter ended Sept. 30, 2023, after the market closes on Nov. 7, 2023. It has a 52-week low of $2.75.
• RSI Value: 27.12
• GPRO Price Action: Shares of GoPro fell 1.8% to close at $2.75 on Friday.

Red Robin Gourmet Burgers, Inc. RRGB

• Red Robin posted better-than-expected quarterly results. G.J. Hart, Red Robin’s President and Chief Executive Officer said, “In the first half of 2023, we began executing the North Star plan by investing in our people, food, and hospitality. We are pleased with our traction so far, the clear improvement in guest satisfaction, and reinvigorated financial performance. Adjusted EBITDA is $51.5 million in just the first half of 2023, compared to $52.1 million in the entire year of 2022.” The company’s stock has a 52-week low of $5.35.
• RSI Value: 27.57
• RRGB Price Action: Shares of Red Robin fell 1.2% to close at $7.05 on Friday.

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