Top 4 Risk Off Stocks That May Explode This Quarter
Portfolio Pulse from Lisa Levin
The article lists four oversold stocks in the consumer staples sector that may present buying opportunities. These include 22nd Century Group, Inc. (NASDAQ:XXII), General Mills, Inc. (NYSE:GIS), The Hershey Company (NYSE:HSY), and Smart for Life, Inc. (NASDAQ:SMFL). The stocks are considered oversold as their Relative Strength Index (RSI) values are near or below 30.
July 14, 2023 | 11:41 am
News sentiment analysis
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POSITIVE IMPACT
Smart for Life received a notification from Nasdaq that it has regained compliance with listing requirements. Its RSI value is 25.65.
The company's regained compliance with Nasdaq listing requirements indicates positive sentiment. The low RSI value suggests the stock is oversold and may rebound.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
22nd Century Group recently announced a $3 million registered direct offering priced above the market. Its RSI value is 22.19.
The company's recent announcement of a $3 million registered direct offering priced above the market indicates positive sentiment. The low RSI value suggests the stock is oversold and may rebound.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
General Mills reported Q4 FY23 sales growth of 3% YoY to $5.03 billion, missing the analyst consensus. Its RSI value is 23.66.
The company's missed sales estimates could negatively impact the stock price. The low RSI value suggests the stock is oversold and may rebound, but the negative earnings news may counteract this.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
JP Morgan maintained Hershey with a Neutral rating and lowered the price target from $252 to $249. Its RSI value is 22.44.
The lowered price target by JP Morgan could negatively impact the stock price. The low RSI value suggests the stock is oversold and may rebound, but the negative rating news may counteract this.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100