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, according to Benzinga Pro.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Lotus Technology Inc. (NASDAQ:LOT)
- On March 20, Lotus Technology said it will report its unaudited fourth quarter and full year 2023 financial results on April 8, 2024, before the opening bell. The company’s stock fell around 46% over the past month and has a 52-week low of $5.50 .
- RSI Value: 27.30
- LOT Price Action: Shares of Lotus Technology fell 8.6% to close at $6.13 on Tuesday.
iRobot Corporation (NASDAQ:IRBT)
- On March 11, iRobot issued first quarter 2024 financial expectations and reiterated its 2024 financial outlook. The company’s stock fell around 11% over the past five days. It has a 52-week low of $7.82.
- RSI Value: 21.61
- IRBT Price Action: Shares of iRobot fell 1.6% to close at $7.82 on Tuesday.
Lululemon Athletica Inc. (NASDAQ:LULU)
- On March 21, Lululemon posted better-than-expected results for its fourth quarter, but issued a weak forecast for the first quarter. “During the fourth quarter, we saw continued momentum across our channels, geographies, and merchandise categories, driven by our teams around the world,” said Calvin McDonald, CEO of Lululemon. “As we step into 2024, we are focused on the significant opportunities ahead for lululemon as we navigate the dynamic retail environment and deliver for guests through innovative new products and brand activations.” The company’s stock fell around 17% over the past five days and has a 52-week low of $326.93.
- RSI Value: 26.15
- LULU Price Action: Shares of Lululemon fell 0.7% to close at $386.14 on Tuesday.
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