The following is a list of oversold stocks, as defined by the Relative Strength, or RSI(14), indicator. All of the stocks mentioned below have RSI(14) levels below 40, which usually signals oversold conditions.
In addition, all of these companies have announced stock buybacks over recent weeks.
This list might be an interesting starting point for contrarian investors. If these companies are buying back their own stock, will that provide some support at these oversold levels? Full details below.
RSI(14) and short float data sourced from Finviz, buyback data sourced from RTT News.
Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the top six stocks mentioned below. Analyst ratings sourced from Zacks Investment Research. Note: The numbers on top of items represent the forward P/E ratio, if available.
The list is sorted alphabetically.
1. Ameron International Corporation (AMN): General Building Materials Industry. Market cap of $658.88M. The company announced the buyback of $50M on Oct-22-10 (represents about 7.6% of current market cap). RSI(14) at 38.89. Short float at 3.
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