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The most oversold stocks in the consumer discretionary sector provide an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock’s strength on days when prices rise to its strength on days when prices fall. When compared to a stock’s price action, it can give traders a better idea of how a stock might perform in the short term. An asset is generally considered oversold when the RSI is below 30.
Here is the latest list of major oversold players in this sector, with an RSI near or below 30.
Tesla, Inc. TSLA
- Tesla, Inc increased the discount on all Model 3 and Model Y vehicles delivered in the US in December from $3,750 to $7,500. The company’s stock has a 52-week low at $122.26 .
- RSI value: 22.65
- TSLA Price Action: Tesla shares fell 8.9% to settle at $125.35 on Thursday, but added 2% in today’s pre-market trading session.
Rivian Automotive Inc RIVN
- Mizuho recently maintained Rivian Automotive with Buy and lowered the price target from $58 to $50. The company the stock has a 52-week low of $18.93.
- RSI value: 24.72
- RIVN Price Action: Shares of Rivian Automotive fell 6.2% to close at $19.73 on Thursday and lost 0.2% in after-hours trading.
Ford Motor Company F
- Ford recently raised the price of its F-150 Lightning truck due to rising material costs, market factors and supply chain constraints. The company’s stock has a 52-week as low as $10.61.
- RSI value: 28.44
- F Price Action: Ford Motor shares fell 4% to close at $11.31 on Thursday and were down 0.2% in after-hours trading.
Lucid Group, Inc. LCD
- Lucid Group recently announced a successful capital raising of approximately $1.515 billion. The company’s 52-week low is $6.63.
- RSI value: 20.86
- LCD Price Action: Lucid Group shares fell 4% to close at $6.89 on Thursday, but added 0.3% in pre-market trading today.
QuantumScape Corporation QS
- QuantumScape recently announced that it has shipped its first 24-layer prototype lithium-metal battery cells to automotive OEMs for testing. The company has a 52-week low of $5.41.
- RSI value: 29.48
- QS Price Action: QuantumScape shares fell 2.8% to settle at $5.64 on Thursday, and added 0.5% in pre-market trading today.
Read Next: Tesla, Mission Produce And 3 Stocks To Watch Heading Into Friday
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