Top 3 Financial Stocks Which Could Rescue Your Portfolio This Month

Author: Lisa Levin | June 08, 2023 08:23am

The most oversold stocks in the financial sector presents an opportunity to buy into undervalued companies.

The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30.

Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.

Waterdrop Inc. (NYSE:WDH)

• Waterdrop reported worse-than-expected first-quarter results. Mr. Peng Shen, Founder, Chairman, and Chief Executive Officer of Waterdrop, commented, “In the first quarter, we continued to demonstrate resilient and high-quality development, with net operating revenue reaching RMB606.2 million. Moreover, we are proud to have achieved another quarter of profitability.” The company’s stock has a 52-week low of $0.97 .
• RSI Value: 26.62
• WDH Price Action: Shares of Waterdrop fell 1.7% to close at $2.34 on Wednesday.

WisdomTree Chinese Yuan Strategy Fund (NYSE:CYB)

• It has a 52-week low of $23.61.
• RSI Value: 23.59
• CYB Price Action: Shares of WisdomTree Chinese Yuan Strategy Fund fell 0.3% to close at $24.37 on Wednesday.

The OLB Group, Inc. (NASDAQ:OLB)

• OLB reported worse-than-expected first-quarter results. Ronny Yakov, CEO of OLB Group, said, "Once we have completed our stand-alone audit of DMint, we can proceed with the planned spinoff of that subsidiary to OLB shareholders. We also are looking forward to announcing more information on our initiatives in the bodega and convenience store sector which we expect to provide a healthy contribution to our recurring revenues once our POS system begins to be deployed." The company’s stock has a 52-week low of $0.5660.
• RSI Value: 20.99
• OLB Price Action: Shares of OLB Group fell 4% to close at $0.5954 on Wednesday.

 

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Posted In: CYB OLB WDH