Top 5 Defensive Stocks Which Could Rescue Your Portfolio For July

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.

The Estée Lauder Companies Inc. EL

• Piper Sandler downgraded the stock from Overweight to Neutral and lowered its price target from $265 to $195. Also, Raymond James lowered its price target from $240 to $220 on the stock. The company’s stock has a 52-week low of $171.93 .
• RSI Value: 29.85
• EL Price Action: Shares of Estée Lauder fell 1.5% to close at $177.04 on Monday.

Smart for Life, Inc. SMFL

• Smart For Life recently received notification letter from Nasdaq notifying company it has regained compliance with requirements to be listed on Nasdaq. It has a 52-week low of $0.60.
• RSI Value: 26.80
• SMFL Price Action: Shares of Smart for Life fell 1.5% to close at $0.6410 on Monday.

ZIVO Bioscience, Inc. ZIVO

• ZIVO Bioscience announced pricing of $4 million registered direct offering. The company’s stock has a 52-week low of $1.75.
• RSI Value: 29.60
• ZIVO Price Action: Shares of ZIVO Bioscience fell 2.7% to close at $1.81 on Monday.

BRC Inc. BRCC

• The company reported better-than-expected quarterly sales. "This was a transformational quarter in the evolution of Black Rifle Coffee Company," said BRCC Founder and Chief Executive Officer Evan Hafer. The company’s 52-week low is $4.62.
• RSI Value: 25.21
• BRCC Price Action: Shares of BRC fell 5.7% to close at $4.64 on Monday.

AppHarvest, Inc. APPH

• AppHarvest announced Chapter 11 filing to support a financial and operational transition. "The AppHarvest board of directors and executive leadership evaluated several strategic alternatives to maximize value for all stakeholders prior to the Chapter 11 filing," said AppHarvest CEO Tony Martin. "The Chapter 11 filing provides protection while we work to transition operation of our strategic plan, Project New Leaf, which has shown strong progress toward operational efficiencies resulting in higher sales, cost savings and product quality." The company has a 52-week low of $0.0880.
• RSI Value: 13.09
• APPH Price Action: Shares of AppHarvest fell 73.1% to close at $0.09 on Monday.

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