The Industrials sector is teeming with potentially undervalued companies, presenting a unique opportunity for savvy investors. One way to identify these undervalued gems is by looking at oversold stocks, which are those that have experienced a significant price decline and may be ripe for a rebound. The Relative Strength Index (RSI) is a valuable tool for detecting oversold stocks. This momentum indicator measures a stock’s strength on days when prices rise compared to its strength on days when prices fall. Typically, an RSI below 30 signals that a stock is oversold.
Here’s a list of major oversold players within the Industrials sector, featuring an RSI near or below 30:
Nikola Corp (NKLA)
On August 19, Nikola announced a securities purchase agreement and filed for a mixed shelf offering. The company’s stock has witnessed a decline of approximately 35% over the past month, reaching a 52-week low of $4.78.
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RSI Value:
26.27*
Price Action:
Nikola’s shares closed at $4.78 on Monday, marking a 5% drop.SES AI Corp (SES)
On September 17, SES AI revealed a collaboration with NVIDIA, Crusoe, and Supermicro on an AI for Scientific initiative to accelerate material discovery in electric transportation. “AI is changing everything,” stated Qichao Hu, CEO of SES AI. “Our AI for Manufacturing, AI for Safety, and AI for Science models are accelerating the commercialization, time to revenue, and profitability of Li-Metal for EV and UAM.” Over the past five days, the company’s stock has plummeted by approximately 48%, hitting a 52-week low of $0.66.
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RSI Value:
21.33*
Price Action:
SES’s shares closed at $0.66 on Monday, experiencing a 13.4% decrease.Flyexclusive Inc (FLYX)
On September 4, Volato Group, Inc. (SOAR) disclosed an agreement with flyExclusive, Inc. to transition the management of its fleet operations to flyExclusive. The company’s shares have fallen approximately 41% over the past five days, hitting a 52-week low of $2.29.
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RSI Value:
18.61*
Price Action:
Flyexclusive’s shares closed at $2.29 on Monday, marking a 33.6% drop.Jet.AI Inc (JTAI)
On August 19, Jet.AI disclosed that Executive Chairman and Interim CEO Michael Winston exchanged 4,076,288 Merger Consideration Warrants for 4,130,503 shares of Common Stock. The company’s shares have lost around 45% over the past month. The company’s 52-week low stands at $0.10.
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RSI Value:
24.74*
