Top 3 Materials Stocks That May Explode In October
Portfolio Pulse from Avi Kapoor
The article highlights three oversold stocks in the materials sector: Westlake Corp (WLK), Newmont Corporation (NEM), and Olin Corp (OLN). These stocks have RSI values indicating they are oversold, presenting potential buying opportunities. Westlake is set to release its Q3 2024 earnings soon, Newmont reported better-than-expected earnings, and Olin faced challenges due to Hurricane Beryl.
October 25, 2024 | 12:14 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Newmont Corporation reported strong Q3 earnings, beating estimates. Despite this, the stock is oversold with an RSI of 20.36, suggesting potential for a price increase.
Newmont's strong earnings performance and oversold RSI indicate potential for a price rebound, despite recent stock decline.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Westlake Corp's stock is oversold with an RSI of 27.60, indicating potential for a price rebound. The company will release its Q3 2024 earnings on Nov. 5, which could impact stock performance.
Westlake's RSI below 30 suggests it is oversold, indicating a potential price rebound. Upcoming earnings release could further influence stock movement.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Olin Corp's stock is oversold with an RSI of 27.97. The company faced operational challenges due to Hurricane Beryl, impacting its chemical businesses.
Olin's oversold RSI suggests potential for price recovery, but operational challenges from Hurricane Beryl may limit immediate upside.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 85