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Oversold Stocks

The most oversold stocks today is a list of stocks that have been beaten down recently and have the potential to bounce back based on the RSI indicator. When the RSI indicator moves below 30, a stock is considered as oversold.

The undervalued stocks list is useful for swing traders and day traders who are looking for quick trades based on technical analysis. This list is not intended for long-term investors who are looking to buy and hold stocks for the long term.

2/27/2024

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Symbol Chart Open High Low Close Volume % Change Buy or Sell
BEDU 2.00 2.21 2.00 2.17 21300 8.50% BEDU Buy or Sell
BTFX 30.98 31.62 30.36 30.89 107800 8.12% BTFX Buy or Sell
SELX 0.84 0.96 0.79 0.95 595700 7.95% SELX Buy or Sell
DHAI 0.80 0.90 0.78 0.82 706200 6.49% DHAI Buy or Sell
DPRO 0.17 0.17 0.16 0.17 2128200 6.25% DPRO Buy or Sell
CNSP 0.25 0.27 0.25 0.26 137300 4.00% CNSP Buy or Sell
BRDG 6.91 7.11 6.70 7.06 431500 3.37% BRDG Buy or Sell
ATHE 1.85 2.00 1.80 1.90 56100 3.26% ATHE Buy or Sell
SMP 32.34 33.35 32.20 33.12 253100 3.02% SMP Buy or Sell
MED 41.10 42.68 40.54 41.75 410900 2.93% MED Buy or Sell
SCX 9.84 10.24 9.78 10.15 32400 2.53% SCX Buy or Sell
HRYU 0.40 0.43 0.40 0.41 303600 2.50% HRYU Buy or Sell
DBX 23.58 24.14 23.56 23.98 5216700 2.04% DBX Buy or Sell
NCDL 16.35 17.13 16.34 16.75 87200 1.70% NCDL Buy or Sell
OP 1.95 1.95 1.90 1.93 24900 1.58% OP Buy or Sell
BJDX 0.77 0.80 0.75 0.75 37600 1.35% BJDX Buy or Sell
GGR 1.56 1.61 1.41 1.57 666800 1.29% GGR Buy or Sell
NVDQ 6.27 6.61 6.26 6.36 3960200 1.11% NVDQ Buy or Sell
HR 13.24 13.36 13.13 13.28 3297600 1.07% HR Buy or Sell
YELP 36.99 37.53 36.62 37.01 820600 0.90% YELP Buy or Sell
GPRO 2.24 2.29 2.22 2.26 1198900 0.89% GPRO Buy or Sell
HUBG 43.98 44.45 43.70 44.09 377900 0.85% HUBG Buy or Sell
NB 2.41 2.41 2.28 2.37 102200 0.85% NB Buy or Sell
KW 8.45 8.69 8.30 8.52 2081000 0.83% KW Buy or Sell
WPM 39.35 39.80 39.12 39.50 2706300 0.79% WPM Buy or Sell
PETS 5.15 5.26 5.14 5.16 377900 0.78% PETS Buy or Sell
NVD 6.94 7.33 6.91 7.03 2419700 0.72% NVD Buy or Sell
GNL 7.34 7.46 7.32 7.34 2473800 0.69% GNL Buy or Sell
NVDS 15.29 15.81 15.26 15.44 3024800 0.65% NVDS Buy or Sell
MANU 15.33 15.58 15.14 15.43 1461500 0.65% MANU Buy or Sell
SFEB 19.92 19.95 19.85 19.92 48100 0.61% SFEB Buy or Sell
IJH 57.21 57.30 57.06 57.28 5727900 0.53% IJH Buy or Sell
ODV 2.00 2.03 1.95 2.00 45900 0.50% ODV Buy or Sell
ACRE 7.26 7.40 7.19 7.27 1005800 0.41% ACRE Buy or Sell
NVDD 13.34 13.69 13.33 13.46 56900 0.37% NVDD Buy or Sell
OPI 2.89 3.05 2.86 2.86 1272900 0.35% OPI Buy or Sell
SSG 2.94 3.03 2.93 2.98 143400 0.34% SSG Buy or Sell
DHCA 10.77 10.78 10.77 10.78 682600 0.28% DHCA Buy or Sell
NUS 12.41 12.58 12.33 12.37 592700 0.24% NUS Buy or Sell
WEL 11.30 11.32 11.30 11.32 178700 0.09% WEL Buy or Sell
XPDB 10.82 10.83 10.82 10.83 158900 0.09% XPDB Buy or Sell
GBBK 10.73 10.74 10.73 10.74 30200 0.09% GBBK Buy or Sell
TPMN 23.34 23.40 23.34 23.36 21300 0.09% TPMN Buy or Sell
WPC 55.10 55.57 54.88 54.88 1495300 0.07% WPC Buy or Sell
SOYB 24.22 24.39 23.99 24.05 49100 0.04% SOYB Buy or Sell
BIOL 0.15 0.15 0.15 0.15 3543000 0.00% BIOL Buy or Sell
AZTR 0.27 0.28 0.26 0.27 1002700 0.00% AZTR Buy or Sell
LIFW 0.80 0.83 0.78 0.81 123900 0.00% LIFW Buy or Sell
PEV 0.90 1.00 0.88 0.90 39700 0.00% PEV Buy or Sell
UPXI 0.60 0.63 0.60 0.60 32000 0.00% UPXI Buy or Sell
TBMC 10.53 10.53 10.53 10.53 21700 0.00% TBMC Buy or Sell
WMT 59.64 59.80 59.22 59.59 17960300 -0.02% WMT Buy or Sell
GIPR 3.09 3.09 2.98 3.01 26400 -0.33% GIPR Buy or Sell
ACON 0.35 0.37 0.32 0.35 2130186 -2.78% ACON Buy or Sell
MVLA 0.26 0.27 0.23 0.25 347400 -3.85% MVLA Buy or Sell
PEGY 0.08 0.08 0.06 0.07 16091900 -12.50% PEGY Buy or Sell

How to trade oversold stocks?

As technical traders, we should never rely on a single indicator. We should use multiple technical indicators and chart patterns to generate a buy and sell signal. It is recommended that a trader combines the RSI or the stochastic with other indicators for best results. Let's take a look at a chart example. The oversold stock signal based on the RSI indicator works out well for the stock COUP. During mid-March, the stock formed three bullish signals.

  • RSI drops below 30 and bounces back above the RSI oversold a few days later
  • MACD made a crossover which is another bullish sign
  • On top of that, the stock is trading at a usually high volume on the day that it bounced back from the bottom.

Oversold stocks examples

Let's look at another example, CPNG, which was another oversold stock recently.

  • The RSI indicator for CPNG dived below 30 twice in the following chart. First in January, and a second time in Mid-May. In both cases, the stock was considered an oversold stock.
  • As the RSI crosses over 30 from the oversold zone, it generates a bullish signal.
  • Around the same time, the stock chart forms a MACD crossover which is another bullish signal.
  • In January after the RSI rises above 30, CPNG rises from about $20 per share and peaks at $27 a month later.
  • The stock then keeps going lower until Mid-May when the stock is considered oversold again based on the RSI indicator. The stock then plunged sharply on May 9 and May 11 to a low of $9 per share. After the RSI crossover of 30 again the next day after the stock rises, the stock then peaks around $14. For the next 3 weeks or so, the stock is consolidating in that area and fails to break above $14 which means $14 is the new resistance. Since the stock could go either way from here, there is no advantage of holding the stock any longer for traders who go long based on the RSI crossover signal.




Conclusion

I wish to tell you that every trade works out as well as the ones that we showed above, but that's not the case. Oftentimes, a stock fails to go up and you need to get out at a loss or break even. You need to have a plan before you enter a trade and have an exit strategy to get out when things are not working out.

Please understand that just because a stock is oversold based on the technical indicator doesn't mean it has reached the bottom.

Many factors may cause the downtrend, such as the general market being in negative territory, the economy being in trouble, the industry not doing good, or the stock itself may be in trouble.

During a downtrend, stock can be in oversold territory for a very long time. A trader has to be careful not to jump in on trade too early otherwise he will end up losing money.

Buying a stock during a downtrend is like catching a falling knife, the odds are against you. Conservative traders should wait for signs of recovery and set a tight stop loss to buy oversold stocks.

To learn more, read the following related articles How to trade oversold stocks When to sell a stock How to read stock charts


How to find oversold stocks?

Our stock screener is for technical traders as most of the tools are built based on technical analysis and chart patterns. Therefore, we will only be discussing how to find oversold stocks based on the technical indicators.

The oversold stocks listed above are based on the RSI indicator. If you prefer to use the stochastic indicator, simply follow the below steps.

  • Go to our main page https://stock-screener.org
  • Scroll down to find the stochastic indicator under the Technical Stock Screener
  • Select the stochastic crossover from 0 & to 30.
  • Hit the submit button, and you will get a list of stocks that are oversold based on the stochastic indicator.



What are oversold stocks?

First, let's define what oversold stock means. Oversold stocks have different meanings depending on whether you are a trader or an investor.

For a long-term investor, a stock is considered oversold when it is trading under the true value based on fundamental data such as the P/E ratio. If a stock's P/E ratio is at a historical low, it will be considered cheap to long-term value investors.

For technical traders, the perspective of oversold stocks is different from the measurements of the P/E ratios of a company. As short-term traders, we determine whether a stock is oversold based on the RSI indicator or the stochastic oscillator to see if a stock is too cheap compared to recent prices.

The technical approach does not take into account the P/E ratios or any fundamental data, the main focus is the stock price and the stock charts.


RSI Oversold Stocks

There are many technical indicators developed by traders to measure if a stock is oversold. The Relative Strength Index indicator (RSI) and stochastic oscillator are the most popular indicators when it comes to finding oversold and overbought stocks.

When the RSI indicator drops below 30, the stock is considered oversold or when the stochastic oscillator drops below 20, it is also regarded as oversold. Often, these two technical indicators generate conflicting signals. This oversold stocks list shows stocks with low rsi (RSI < 30).


Oversold Penny Stocks

This list does not include penny stocks. For those who are interested in oversold penny stocks, use the penny stocks scanner.


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