Top 2 Materials Stocks Which Could Blast Off In August
Portfolio Pulse from Lisa Levin
Ryerson Holding Corporation (RYI) and AngloGold Ashanti Limited (AU) are identified as the most oversold stocks in the materials sector, with RSI values of 25.29 and 29.35 respectively. RYI recently priced a secondary offering of 4 million shares by a significant shareholder, while AU reported H1 earnings of 33 cents per share, down from 71 cents per share in the year-ago period.
August 09, 2023 | 11:32 am
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POSITIVE IMPACT
AngloGold Ashanti Limited's stock is oversold, with an RSI of 29.35. The company reported a drop in H1 earnings.
The oversold status of AU, indicated by its low RSI, suggests potential for price recovery. However, the drop in H1 earnings could be a concern for investors.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Ryerson Holding Corporation's stock is oversold, with an RSI of 25.29. The company recently priced a secondary offering of 4 million shares.
The oversold status of RYI, indicated by its low RSI, suggests potential for price recovery. The recent secondary offering could provide additional liquidity, potentially attracting investors.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100