Top 5 Materials Stocks That May Rocket Higher In November
Portfolio Pulse from Lisa Levin
The article lists the top 5 oversold materials stocks with potential for growth in November, based on their low Relative Strength Index (RSI) values. United States Antimony Corporation (UAMY), Northern Technologies International Corporation (NTIC), Gulf Resources, Inc. (GURE), Millennium Group International Holdings Limited (MGIH), and Sibanye Stillwater Limited (SBSW) are identified as major oversold players in the sector, with RSI values near or below 30, indicating they may be undervalued.
November 22, 2023 | 1:14 pm
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POSITIVE IMPACT
Gulf Resources posted a Q3 loss but expects profitability soon. The stock's RSI is 20.59, and it closed at $1.4650, down 4.2%.
GURE's low RSI and the CEO's positive outlook despite a Q3 loss suggest the stock may be poised for a short-term recovery.
CONFIDENCE 65
IMPORTANCE 65
RELEVANCE 80
POSITIVE IMPACT
Millennium Group International Holdings lost 41% over the past month. The stock's RSI is 24.10, and it closed at $0.9660, down 1.4%.
MGIH's significant loss over the past month and low RSI may attract investors looking for undervalued stocks, potentially driving up the price.
CONFIDENCE 60
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Northern Technologies International reported weaker-than-expected earnings but achieved record sales. The stock has an RSI of 24.22 and closed at $11.21, down 4.2%.
NTIC's record sales despite weak earnings and a low RSI suggest the stock may be undervalued, potentially leading to a price increase in the short term.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Sibanye Stillwater was downgraded by B of A Securities and has an RSI of 24.44. The stock fell 17.9% to close at $4.27.
The downgrade by B of A Securities and a low RSI indicate that SBSW may be undervalued, which could lead to a short-term price increase as investors seek bargains.
CONFIDENCE 65
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
United States Antimony Corporation has an RSI of 29.71 and recently appointed Gary C. Evans as Chairman. The stock closed at $0.2550, down 2%.
The appointment of a new Chairman and a low RSI may indicate a positive turnaround for UAMY, potentially leading to a short-term price increase.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80