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.
Faraday Future Intelligent Electric Inc. FFIE
- Faraday Future Intelligent Electric announced an "at-the-market" equity offering program. The company’s stock has a 52-week low of $1.24 .
- RSI Value: 22.78
- FFIE Price Action: Shares of Faraday Future Intelligent Electric rose 2.3% to close at $1.33 on Friday.
Portillo's Inc. PTLO
- Portillos posted weaker-than-expected second-quarter results. Michael Osanloo, President and Chief Executive Officer of Portillo’s, said, “We delivered another quarter of strong results that highlight the durability of our brand.” It has a 52-week low of $15.06.
- RSI Value: 20.9406
- PTLO Price Action: Shares of Portillo's gained 0.8% to close at $15.39 on Friday.
Jack in the Box Inc. JACK
- Jack In The Box reported a third-quarter 2023 sales decline of 0.35% year-on-year to $396.9 million, beating the analyst consensus estimate of $393.89 million. The company is expected to release fourth-quarter results on Nov. 21, 2023. The company’s stock has a 52-week low of $65.72.
- RSI Value: 26.80
- JACK Price Action: Shares of Jack in the Box gained 1% to close at $69.06 on Friday.
Service Corporation International SCI
- Service Corp Intl posted upbeat quarterly results. Tom Ryan, the Company's Chairman and CEO, commented, "Today we are pleased to report adjusted earnings per share of $0.83 and net cash provided by operating activities excluding special items of $157 million for the second quarter of 2023.” A The company’s 52-week low is $56.08.
- RSI Value: 29.26
- SCI Price Action: Shares of Service Corporation International rose 1% to close at $57.14 on Friday.
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