The most oversold stocks in the financial 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.
Factset Research Systems Inc (NYSE:FDS)
- On Jan. 14, Wells Fargo analyst Jason Haas maintained FactSet Research Systems with an Underweight rating and raised the price target from $260 to $265. The company’s stock fell around 11% over the past five days and has a 52-week low of $249.68.
- RSI Value: 29.4
- FDS Price Action: Shares of Factset Research rose 0.6% to close at $254.36 on Friday.
- Edge Stock Ratings: 3.27 Momentum score with Value at 27.45.
Robinhood Markets Inc (NASDAQ:HOOD)
- On Jan. 28, Needham analyst John Todaro reiterated Robinhood with a Buy and maintained a $135 price target. The company’s stock fell around 12% over the past month and has a 52-week low of $29.66.
- RSI Value: 29.1
- HOOD Price Action: Shares of Robinhood fell 1.7% to close at $99.48 on Friday.
- Benzinga Pro’s charting tool helped identify the trend in HOOD stock.
Root Inc (NASDAQ:ROOT)
- On Jan. 13, Wells Fargo analyst Elyse Greenspan maintained Root with an Equal-Weight rating and cut the price target from $96 to $75. The company’s stock fell around 14% over the past month and has a 52-week low of $60.10.
- RSI Value: 28.7
- ROOT Price Action: Shares of Root fell 1.3% to close at $62.13 on Friday.
- Benzinga Pro’s signals feature notified of a potential breakout in ROOT shares.
Learn more about BZ Edge Rankings—click to see scores for other stocks in the sector and see how they compare.
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