Top 3 Materials Stocks That Are Set To Fly This Month

Olin Corporation
Nutrien Ltd.
Alcoa Corporation
Huntsman Corporation

Olin Corporation

OLN

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Nutrien Ltd.

NTR

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Alcoa Corporation

AA

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Huntsman Corporation

HUN

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The most oversold stocks in the materials 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.

Nutrien Ltd (NYSE:NTR)

  • On May 26, Nutrien priced offering of an aggregate of US$1.0 billion of 5-year and 10-year senior notes. The company’s stock fell around 12% over the past month and has a 52-week low of $53.03.
  • RSI Value: 27
  • NTR Price Action: Shares of Nutrien fell 1.1% to close at $61.54 on Tuesday.
  • Edge Stock Ratings: 16.83 Momentum score with Value at 86.00.

Alcoa Corp (NYSE:AA)    

  • Alcoa announced plans to announce its second quarter financial results on Thursday, July 16, after closing bell. The company’s stock fell around 26% over the past month and has a 52-week low of $27.72.
  • RSI Value: 28.3
  • AA Price Action: Shares of Alcoa fell 5.6% to close at $55.08 on Tuesday.
  • Benzinga Pro’s charting tool helped identify the trend in AA stock.

Olin Corp (NYSE:OLN)

  • On June 16, Huntsman Corporation (NYSE:HUN) announced an all-stock merger-of-equals with Olin. The combined business, OlinHuntsman Corp., will have about $12.5 billion in combined revenue and over $400 million in identified benefits. Under the agreement, Huntsman shareholders will receive 0.5476 Olin shares for each Huntsman share. After closing, Olin shareholders will own about 54.5% of OlinHuntsman, while Huntsman shareholders will own about 45.5%. The company’s stock fell around 19% over the past five days and has a 52-week low of $18.08.
  • RSI Value: 27.1
  • OLN Price Action: Shares of Olin fell 0.4% to close at $21.46 on Tuesday.
  • Benzinga Pro’s signals feature notified of a potential breakout in OLN shares.

Learn more about BZ Edge Rankings—click to see scores for other stocks in the sector and see how they compare.

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