Top 5 Defensive Stocks That Could Blast Off This Quarter
Portfolio Pulse from Lisa Levin
The article lists five oversold stocks in the consumer staples sector that present a buying opportunity. The stocks are Eastside Distilling, Inc. (EAST), Farmer Bros. Co. (FARM), Coffee Holding Co., Inc. (JVA), Rite Aid Corporation (RAD), and Dollar Tree, Inc. (DLTR). All these stocks have an RSI value below 30, indicating they are oversold.
August 31, 2023 | 12:31 pm
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POSITIVE IMPACT
Eastside Distilling's stock is oversold with an RSI of 26.43. The company posted Q2 net sales of $2.661 million.
The oversold status of the stock and the company's Q2 sales could lead to a price increase in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Farmer Bros. Co.'s stock is oversold with an RSI of 25.78. The company recently announced a transition of CFO.
The oversold status of the stock and the CFO transition could lead to a price increase in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Coffee Holding Co., Inc.'s stock is oversold with an RSI of 29.69. The company entered into a merger and share exchange agreement with Delta Corp Holdings Limited.
The oversold status of the stock and the merger could lead to a price increase in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
Dollar Tree, Inc.'s stock is oversold with an RSI of 20.81. The company reported Q2 financial results and issued Q3 EPS guidance below estimates.
The oversold status of the stock, Q2 results, and Q3 EPS guidance could lead to a neutral price movement in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Rite Aid Corporation's stock is oversold with an RSI of 29.55. The company is reportedly preparing a bankruptcy filing amid lawsuits related to the opioid crisis.
The oversold status of the stock and the potential bankruptcy filing could lead to a price decrease in the short term.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100