Top 5 Defensive Stocks Which Could Rescue Your Portfolio This Month
Portfolio Pulse from Lisa Levin
The article lists five oversold stocks in the consumer staples sector that could potentially rescue a portfolio. The companies mentioned are Bruush Oral Care Inc. (BRSH), Oatly Group AB (OTLY), The Estée Lauder Companies Inc. (EL), Rocky Mountain Chocolate Factory, Inc. (RMCF), and Beyond Meat, Inc. (BYND). All these stocks have an RSI value below 30, indicating they are oversold and could be undervalued.
October 31, 2023 | 12:22 pm
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NEGATIVE IMPACT
Beyond Meat's stock is oversold with an RSI of 25.70. The company was downgraded from a Neutral rating to an Underperform rating by Mizuho analyst.
The oversold status of BYND could potentially lead to a price increase in the short term. However, the recent downgrade by Mizuho analyst might lead to a price decrease.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
Rocky Mountain Chocolate Factory's stock is oversold with an RSI of 22.68. The company posted a Q2 loss of 16 cents per share.
The oversold status of RMCF could potentially lead to a price increase in the short term. However, the recent Q2 loss might offset this effect.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Bruush Oral Care's stock is oversold with an RSI of 21.32. The company recently announced a $5.0 million private placement.
The oversold status of BRSH and the recent private placement announcement could potentially lead to a price increase in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Estée Lauder's stock is oversold with an RSI of 28.35. The company is expected to release its fiscal 2024 Q1 results on Nov. 1, 2023.
The oversold status of EL and the upcoming fiscal 2024 Q1 results could potentially lead to a price increase in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Oatly Group's stock is oversold with an RSI of 19.06. The company is scheduled to report Q3 financial results on Nov. 9, 2023.
The oversold status of OTLY and the upcoming Q3 financial results could potentially lead to a price increase in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100