Top 4 Defensive Stocks That Could Lead To Your Biggest Gains 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.

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

B&G Foods, Inc. BGS

• B&G Foods priced its upsized $550 million offering of 8.00% senior secured notes due 2028. The company’s stock has a 52-week low of $9.64 .
• RSI Value: 28.91
• BGS Price Action: Shares of B&G Foods fell 1.2% to close at $9.77 on Monday.

Pilgrim's Pride Corporation PPC

• Pilgrims Pride posted upbeat second-quarter earnings. “Throughout the past 12 months, our consistent execution and focus on portfolio diversification, growth with Key Customers, and operational excellence has been instrumental in our ability to navigate extremely volatile market conditions. Our business profitability increased quarter over quarter yet again despite challenges in overall protein availability and lingering inflation,” said Fabio Sandri, Chief Executive Officer. It has a 52-week low of $19.96.
• RSI Value: 27.21
• PPC Price Action: Shares of Pilgrim's Pride fell 1.1% to close at $22.57 on Monday.

Keurig Dr Pepper Inc. KDP

• Keurig Dr Pepper appointed Tim Cofer as Chief Operating Officer, effective Nov.6, 2023, reporting to Chairman & CEO Bob Gamgort. "With his background as a successful public company CEO and a veteran CPG executive, Tim steps into this role with the experience and capabilities that will propel KDP's growth journey," said Bob Gamgort. The company’s stock has a 52-week low of $30.47.
• RSI Value: 26.98
• KDP Price Action: Shares of Keurig Dr Pepper fell 1.1% to close at $31.21 on Monday.

Diageo plc DEO

• Diageo maintained its guidance for fiscal 2024. The company’s 52-week low is $146.90.
• RSI Value: 29.96
• DEO Price Action: Shares of Diageo fell 1.3% to close at $147.21 on Monday.

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