3 Oversold Industrials Stocks to Watch This Month

The article highlights three industrials stocks that could experience a significant increase in value in the coming month due to their oversold status. Copart Inc (CPRT) has an RSI value of 28.9, WANG & LEE GROUP Inc (WLGS) has an RSI value of 24.7, and Volato Group Inc (SOAR) has an RSI value of 26.8. These stocks have been impacted by recent financial challenges, but their low RSI values suggest a potential rebound.

In the industrials sector, oversold stocks present an opportunity for investors seeking undervalued companies. The Relative Strength Index (RSI) is a momentum indicator that 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 [1].

Copart Inc (CPRT)
Copart Inc (CPRT) has an RSI value of 28.9. On May 22, the company reported a third-quarter revenue miss, causing its stock to fall around 5% over the past month and hit a 52-week low of $47.34c. Despite this, the stock closed at $48.18 on Friday, indicating a slight rebound. The Edge Stock Ratings give CPRT a momentum score of 23.80 and a value score of 46.59. This suggests that while the stock has been oversold, it may be poised for a potential rebound.

WANG & LEE GROUP Inc (WLGS)
WANG & LEE GROUP Inc (WLGS) has an RSI value of 24.7. The company received a letter from the Nasdaq regarding continued listing requirements on May 7, leading to a significant drop in its stock price, which fell around 78% over the past month and hit a 52-week low of $0.040. Despite this, the stock closed at $0.046 on Friday. Benzinga Pro’s charting tool helped identify the trend in WLGS stock, suggesting a potential turnaround.

Volato Group Inc (SOAR)
Volato Group Inc (SOAR) has an RSI value of 26.8. On June 30, the company announced the sale of GC Aviation, Inc for $2 million in cash. This move was part of a strategic shift to concentrate on high-growth areas of the business. The stock fell around 52% over the past month and hit a 52-week low of $1.25. Despite this, the stock closed at $1.29 on Friday. Benzinga Pro’s signals feature notified of a potential breakout in SOAR shares.

Conclusion
These three industrials stocks—Copart Inc (CPRT), WANG & LEE GROUP Inc (WLGS), and Volato Group Inc (SOAR)—have been impacted by recent financial challenges but are showing signs of potential rebound. Their low RSI values suggest that they may be oversold and could experience a significant increase in value in the coming month. However, investors should closely monitor these stocks and be prepared for potential volatility.

References
[1] https://www.benzinga.com/trading-ideas/long-ideas/25/06/46166425/top-3-industrials-stocks-that-could-blast-off-this-month-2