Top 4 Materials Stocks That Are Set To Fly In Q4
Portfolio Pulse from Lisa Levin
The article lists four materials stocks that are considered oversold and may present buying opportunities in Q4. These include Millennium Group International Holdings Limited (NASDAQ:MGIH), Flexible Solutions International, Inc. (NYSE:FSI), Albemarle Corporation (NYSE:ALB), and Ranpak Holdings Corp. (NYSE:PACK). The companies have been identified as oversold based on their Relative Strength Index (RSI) values, which are all near or below 30.
November 08, 2023 | 12:11 pm
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Albemarle's Q3 net sales rose 10% and its stock closed at $122.11 on Tuesday. Its RSI value is 28.56, indicating it is oversold.
Despite the company's rising sales, its low RSI value suggests it may be undervalued and due for a rebound.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Flexible Solutions' revenue fell in Q3 and its stock closed at $1.9280 on Tuesday. Its RSI value is 27.05, suggesting it is oversold.
The company's falling revenue and low RSI value suggest it may be undervalued and due for a rebound.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Millennium Group's stock fell around 45% over the past month, closing at $1.03 on Tuesday. Its RSI value is 22.80, indicating it is oversold.
The stock has fallen significantly and its low RSI value indicates it may be oversold and due for a rebound.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Ranpak posted a narrower-than-expected Q3 loss and its stock closed at $3.11 on Tuesday. Its RSI value is 29.64, suggesting it is oversold.
The company's better-than-expected financial results and low RSI value suggest it may be undervalued and due for a rebound.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100