Top 2 Financial Stocks That Are Preparing To Pump This Quarter

The most oversold stocks in the financial 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.

Ellington Financial Inc. EFC

  • On Dec. 12, Arlington Asset Investment shareholders approved a merger with Ellington Financial Inc. The company’s stock fell around 3% over the past month and has a 52-week low of $10.82 .
  • RSI Value: 29.54
  • EFC Price Action: Shares of Ellington Financial gained 0.2% to close at $12.72 on Thursday.

Hywin Holdings Ltd. HYW

  • On Dec. 1, Hywin Holdings said it formed strategic partnership agreement with Tencent Cloud for digital transformation. The company’s stock fell around 77% over the past month. It has a 52-week low of $1.2620.
  • RSI Value: 6.13
  • HYW Price Action: Shares of Hywin Holdings fell 4.3% to close at $1.3401 on Thursday.

 

Read More: Flexsteel Industries Posts Strong Preliminary Results, Joins Wipro, Sify Technologies And Other Big Stocks Moving Higher In Friday's Pre-Market Session

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Long IdeasNewsPenny StocksSmall CapPre-Market OutlookMarketsTrading IdeasExpert Ideasfinancial stocksOversold StocksRSI
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!