Top 3 Materials Stocks That Could Blast Off In Q1

Written By Michael Gary Scott







Analysis of Materials Stocks With Potential for Growth in Q1

The Exciting Outlook for Materials Stocks in Q1

The materials sector is abuzz with opportunities as oversold stocks present a chance to invest in undervalued companies.

The Relative Strength Index (RSI), a key momentum indicator, offers insights into short-term stock performance. An RSI below 30 typically signals that an asset is oversold, indicating a potential turnaround.

Let’s delve into the latest developments in some of the most oversold materials stocks:

United States Steel Corporation X

  • United States Steel Corporation recently shared its first-quarter FY24 guidance, projecting an adjusted EPS of $0.80-$0.84. Despite this optimistic outlook, the stock experienced a 14% decline over the past month, hitting a 52-week low of $20.40.
  • RSI Value: 28.36
  • X Price Action: Recent trading saw a modest 0.9% gain, with shares closing at $40.05 on Thursday.

Crown ElectroKinetics Corp. CRKN

  • Crown ElectroKinetics recently issued guidance for the first and second quarters of 2024. However, the stock plummeted by 40% in the last month, hitting a 52-week low of $0.0550.
  • RSI Value: 24.96
  • CRKN Price Action: Despite a challenging period, shares closed at $0.0598 on Thursday.

Inno Holdings Inc. INHD

  • Inno Holdings made waves with the launch of its revolutionary Mobile Factory. Despite this innovative step, the stock observed a 32% dip in the past month, reaching a 52-week low of $0.81.
  • RSI Value: 19.25
  • INHD Price Action: Shares experienced a 2.3% decline, closing at $0.8109 on Thursday.

 

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