Top 5 Industrials Stocks Which Could Rescue Your Portfolio This Month
Portfolio Pulse from Lisa Levin
The article lists the top 5 oversold industrials stocks with RSI near or below 30, presenting an opportunity to buy into undervalued companies. The stocks mentioned are INNOVATE Corp. (VATE), Golden Ocean Group Limited (GOGL), DLH Holdings Corp. (DLHC), Ducommun Incorporated (DCO), and Genco Shipping & Trading Limited (GNK).
May 30, 2023 | 12:38 pm
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POSITIVE IMPACT
DLH Holdings has been awarded a contract to expand its IT services for the National Institute on Aging. Its RSI value is 28.34, and shares fell 0.4% to close at $9.11 on Friday.
DLH Holdings has an RSI value of 28.34, indicating it is oversold. The company has been awarded a contract to expand its IT services, which could lead to a potential short-term increase in its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Golden Ocean Group reported Q1 2023 revenue of $196.5 million, exceeding consensus. The outlook for the rest of the year is positive due to the Chinese economy's recovery. Its RSI value is 23.38, and shares fell 0.1% to close at $7.46 on Friday.
Golden Ocean Group has an RSI value of 23.38, indicating it is oversold. The company reported better-than-expected Q1 revenue and has a positive outlook for the rest of the year, which could lead to a potential short-term increase in its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
INNOVATE Corp. reported a YoY decrease in Q1 sales results but has seen positive developments across its businesses. Its RSI value is 23.32, and shares gained 3.1% to close at $1.32 on Friday.
INNOVATE Corp. has an RSI value of 23.32, indicating it is oversold. The company has seen positive developments across its businesses, which could lead to a potential short-term increase in its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
Ducommun Incorporated announced pricing of a $74.4 million public offering of 2 million shares of common stock at $40 per share. Its RSI value is 24.22, and shares fell 0.6% to close at $40.76 on Friday.
Ducommun Incorporated has an RSI value of 24.22, indicating it is oversold. However, the company announced a public offering of 2 million shares, which could lead to a neutral short-term impact on its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
Genco Shipping & Trading appointed Peter Allen as CFO, effective June 16, 2023. Its RSI value is 25.76, and shares fell 0.5% to close at $12.59 on Friday.
Genco Shipping & Trading has an RSI value of 25.76, indicating it is oversold. However, the company appointed a new CFO, which could lead to a neutral short-term impact on its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100