Top 3 Risk Off Stocks That Could Blast Off In October

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, according to Benzinga Pro.

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

Tootsie Roll Industries Inc (NYSE:TR)

On Oct. 28, Tootsie Roll Industries posted third-quarter earnings of 49 cents per share, up from 45 cents per share in the year-ago period. The company's stock fell around 14% over the past five days and has a 52-week low of $28.32.
RSI Value: 28.8
TR Price Action: Shares of Tootsie Roll rose 1.9% to close at $36.05 on Tuesday.
Edge Stock Ratings: 60.73 Momentum score.

National Beverage Corp (NASDAQ:FIZZ)

On Sept. 11, National Beverage posted downbeat quarterly sales. “Our solid operating performance amid the challenging global environment, marked by uncertainty in consumer spending and geopolitical events, reflects the strength of our brands and the success of Team National’s management strategy. We continue to generate exceptional operating cash flows while maintaining one of the strongest balance sheets among our beverage peers,” as stated by a company spokesperson. The company's stock fell around 8% over the past month and has a 52-week low of $33.72.
RSI Value: 21.4
FIZZ Price Action: Shares of National Beverage fell 3.1% to close at $33.75 on Tuesday.
Benzinga Pro’s charting tool helped identify the trend in FIZZ stock.

Calavo Growers Inc (NASDAQ:CVGW)

On Sept. 9, Calavo Growers posted weaker-than-expected quarterly results. “Our third quarter results highlight both the challenges and the opportunities in our business,” said Lee Cole, President and Chief Executive Officer of Calavo Growers, Inc. The company's stock fell around 10% over the past month and has a 52-week low of $21.46.
RSI Value: 25.6
CVGW Price Action: Shares of Calavo Growers fell 0.5% to close at $23.21 on Tuesday.
Benzinga Pro’s signals feature notified of a potential breakout in CVGW shares.