Exploring the depths of oversold territory in the utilities sector unveils a world of undervalued companies ripe for the picking.
One metric shining a light on potential investment opportunities is the Relative Strength Index (RSI), a gauge of a stock’s momentum. When the RSI dips below 30, a stock is considered oversold, signaling a possible turnaround in the near future.
Let’s delve into two standout players in this oversold landscape:
The Story of VivoPower International PLC (NASDAQ: VVPR)
- VivoPower International made headlines on Sept. 17 with the announcement of a merger agreement with Future Automotive Solutions and Technologies. Despite this news, the company’s stock witnessed a significant decline of about 42% in the past month, plummeting to a 52-week low of $1.02.
- RSI Value: 28.40
- VVPR Price Action: The stock price of VivoPower International closed at $1.06 on Friday, registering a 7% drop.
- On Sept. 19, Alternus Clean Energy announced the cancellation of a crucial agreement, resulting in a 27% decline in its stock value over the past month, hitting a 52-week low of $0.15. Despite this setback, CEO Vincent Browne expressed optimism about the company’s strategic direction, highlighting ongoing initiatives such as a recent joint venture with Hover Energy.
- RSI Value: 25.93
- ALCE Price Action: Ending the week at $0.16, shares of Alternus Clean Energy experienced a 2% decrease.