The consumer discretionary sector presents an intriguing window of opportunity for investors seeking undervalued assets amidst the market tumult.
One key measure that traders have been utilizing to identify these diamonds in the rough is the Relative Strength Index (RSI). This indicator compares a stock’s strength on days when prices rise to its strength on days when prices fall, offering insights into short-term performance. A stock becomes oversold when its RSI dips below 30.
Undervalued Players Alert
In Focus: Conn’s Inc CONN
- Conn’s Inc recently attracted attention following a delinquency notification from the Nasdaq, resulting in a 48% decline in its stock value over the last five days, plunging to a 52-week low of $0.31.
- RSI Value: 17.61
- CONN Price Action: Shares of Conn’s closed at $0.35 on Wednesday.
- Stay informed with real-time updates from Benzinga Pro for the latest on CONN.
Oversold Potential
Spotlight on Levi Strauss & Co LEVI
- Levi Strauss surprised the market with quarterly earnings of 16 cents per share, surpassing the analysts’ consensus of 11 cents. CEO Michelle Gass attributed this success to the Levi’s brand’s strong presence in culture, innovative product pipeline, and expanding global direct-to-consumer channel. Despite recent setbacks, the company remains bullish on growth, particularly in the women’s and denim lifestyle segments.
- RSI Value: 25.55
- LEVI Price Action: Levi Strauss shares saw a marginal decline, closing at $17.50 on Wednesday.
- Utilize Benzinga Pro’s analytical tools to track the nuances of LEVI stock movement.
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