Top 4 Defensive Stocks That Could Lead To Your Biggest Gains In October
Portfolio Pulse from Lisa Levin
The article lists four consumer staples stocks that are currently oversold, presenting a potential buying opportunity. The stocks are B&G Foods, Inc. (BGS), Pilgrim's Pride Corporation (PPC), Keurig Dr Pepper Inc. (KDP), and Diageo plc (DEO). All four stocks have a Relative Strength Index (RSI) below 30, indicating they are oversold.
October 03, 2023 | 12:18 pm
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POSITIVE IMPACT
B&G Foods is oversold with an RSI of 28.91. The company recently priced an upsized $550 million offering of 8.00% senior secured notes due 2028.
The oversold status of BGS combined with the recent note offering could lead to increased buying pressure, potentially driving the stock price up in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Diageo is oversold with an RSI of 29.96. The company maintained its guidance for fiscal 2024.
The oversold status of DEO combined with the maintained fiscal guidance could lead to increased buying pressure, potentially driving the stock price up in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Keurig Dr Pepper is oversold with an RSI of 26.98. The company recently appointed Tim Cofer as COO, effective Nov.6, 2023.
The oversold status of KDP combined with the appointment of a new COO could lead to increased buying pressure, potentially driving the stock price up in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Pilgrim's Pride is oversold with an RSI of 27.21. The company posted upbeat Q2 earnings and has been focusing on portfolio diversification and operational excellence.
The oversold status of PPC combined with positive Q2 earnings and strategic focus could lead to increased buying pressure, potentially driving the stock price up in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100