Top 3 Defensive Stocks That May Explode This Month

Author: Avi Kapoor | March 06, 2024 09:24am

The most oversold stocks in the consumer staples 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, according to Benzinga Pro.

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

Seaboard Corporation (NYSE:SEB)

• On Feb. 13, Seaboard filed its Annual Report on Form 10-K with the United States Securities and Exchange Commission. The company’s stock fell around 11% over the past month and has a 52-week low of $3,145.02 .
• RSI Value: 28.09
• SEB Price Action: Shares of Seaboard fell 0.2% to close at $3,158.00 on Tuesday.

The Boston Beer Company, Inc. (NYSE:SAM)

• On Feb. 27, Boston Beer Company reported worse-than-expected fourth-quarter financial results. Boston Beer disclosed the retirement of Dave Burwick from the post of President and Chief Executive Officer and member of the Board of Directors, effective April 1, 2024. The company’s stock fell around 9% over the past five days. It has a 52-week low of $109.01.
• RSI Value: 28.14
• SAM Price Action: Shares of Boston Beer fell 0.9% to close at $297.05 on Tuesday.

Universal Corporation (NYSE:UVV)

• On Feb. 7, Universal posted an increase in EPS for the third quarter. George C. Freeman, III, Chairman, President, and Chief Executive Officer of Universal, stated, "Universal Corporation again delivered strong financial and operational performance in the third quarter of fiscal year 2024. Operating income and net income for the quarter were up 13% and 28%, respectively, relative to the third quarter of fiscal year 2023, which helped increase operating income and net income for the nine months of fiscal year 2024 by 20% and 13%, respectively, compared to the same period last fiscal year." The company’s stock fell around 16% over the past month and has a 52-week low of $44.40.
• RSI Value: 28.42
• UVV Price Action: Shares of Universal gained 1.4% to close at $48.66 on Tuesday.

 

Read More: Fear & Greed Index Moves To 'Greed' Zone; Dow Dips Over 400 Points

Posted In: SAM SEB UVV