Opportunity knocks with the most oversold stocks in the utilities sector, offering a chance to invest in undervalued companies.
When examining a stock’s strength on both positive and negative price days, the RSI (Relative Strength Index) stands as a valuable momentum indicator. An RSI below 30 typically suggests that an asset is oversold, hinting at potential short-term gains.
Let’s delve into the details of the top two major oversold players in the sector, each with an RSI near or below 30.
VivoPower International PLC (VVPR)
- Recent news on Sept. 17 unveiled VivoPower’s heads of agreement to merge with Future Automotive Solutions and Technologies. The stock dropped approximately 42% over the past month and holds a 52-week low of $1.02.
- RSI Value: 28.40
- VVPR Price Action: Shares of VivoPower International slipped 7% to close at $1.06 on Friday.
Alternus Clean Energy Inc (ALCE)
- Alternus Clean Energy recently announced the termination of a significant agreement and shared its strategic vision for future growth. Despite a 27% decline over the past month and a 52-week low of $0.15, the company remains focused on renewable energy acquisitions and market expansion.
- RSI Value: 25.93
- ALCE Price Action: On Friday, shares of Alternus Clean Energy decreased by 2%, closing at $0.16.
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