The financial sector is currently experiencing a period of oversold conditions, presenting a potential buying opportunity for savvy investors. This is because oversold stocks often have the potential to bounce back, offering a chance to acquire undervalued companies at a discounted price.
The Relative Strength Index (RSI) is a commonly used momentum indicator that helps traders gauge the strength of a stock’s price action. When the RSI falls below 30, it typically signals that a stock is oversold.
Here are three prominent players in the financials sector that are currently trading with RSI values near or below 30:
Highest Performances Holdings Inc (HPH)
On May 30, HPH reported revenue of $5 million for the first half of 2024. Despite facing economic challenges, the company has shown positive progress in both its retail and institutional segments. However, HPH’s stock has experienced a significant decline, falling about 61% over the past month, with a 52-week low of $1.70. The current RSI value is 25.14. HPH’s share price closed at $2.03 on Friday, representing a 2.5% gain.
Katapult Holdings Inc (KPLT)
On August 22, Katapult announced the promotion of Derek Medlin to President and Chief Growth Officer. This move reflects the company’s commitment to growth and expansion. Despite this positive news, KPLT’s stock has dropped around 41% in the last month. The 52-week low is $8.26, and the RSI value currently stands at 27.04. Katapult’s share price closed at $11.65 on Friday, experiencing a slight decline of 0.3%.
DigiAsia Corp (FAAS)
On August 20, DigiAsia appointed Andreas Gregori to its AI Strategic Advisory Board. This strategic move is expected to strengthen the company’s position in the AI market. However, FAAS has suffered a substantial decline in share price, dropping around 66% over the last month. The 52-week low sits at $0.96, and the RSI value currently stands at 25.12. DigiAsia’s share price closed at $0.97 on Friday, reflecting a significant decline of 14.2%.
