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7 Industrial Goods Stocks Near or In Oversold Territory

By  +Follow January 9, 2014 11:06AM
Tickers Mentioned:

Industrial goods stocks may not have the star power of, say, social media/tech stocks, but that clearly doesn’t mean that the sector is without buying opportunities. In fact, there are a number of them.

Of course, the process of determining what exactly constitutes a buying opportunity is highly a highly subjective one, and there are probably at least as many ways to do so as there are investors and traders. One particularly interesting way of doing so is by using the Relative Strength Indicator (RSI).

The RSI is an indicator used in technical analysis that gauges the momentum of a stock’s price movement over a period of time by comparing its up and down closes during that time. It is used by technicians to determine whether a stock is “overbought,” which could indicate a sell-off is near, or if it is “oversold”, meaning that sharp and sudden price decreases could present a great buying opportunity.

The following 7 stocks were selected from the Industrial Goods sector, based on a two criteria:

A market-cap greater than $300 million, in other words small-cap companies and larger.

An RSI (14) reading (the stock’s relative strength over the past 2 weeks) between 40 and 30, indicating that though the stock is in, or is heading into oversold territory, and could be ready for a bounceback in the near future.

Blount International Inc. (BLT)

Industry: Machine Tools & Accessories

Market-Cap: $672 million

Price: $13.57

RSI (14): 38.96

Performance YTD: -6.20 percent

Actuant Corporation (ATU)

Industry: Diversified Machinery

Market-Cap: $2.64 billion

Price: $36.10

RSI (14): 38.75

Performance YTD: -1.50 percent

Handy & Harman Ltd. (HNH)

Industry: Industrial Equipment & Components

Market-Cap: $302.61 million

Price: $22.77

RSI (14): 37.36

Performance YTD: -5.95 percent

Plum Creek Timber Co. Inc. (PCL)

Industry: Lumber, Wood Production

Market-Cap: $7.19 billion

Price: $44.15

RSI (14): 37.08

Performance YTD: -5.12 percent

Simpson Manufacturing Co. Inc. (SSD)

Industry: Small Tools & Accessories

Market-Cap: $1.67 billion

Price: $34.60

RSI (14): 35.50

Performance YTD: -5.75 percent

Schnitzer Steel Industries Inc. (SCHN)

Industry: Metal Fabrication

Market-Cap: $759.33 million

Price: $28.40

RSI (14): 31.92

Performance YTD: -13.10 percent

Progressive Waste Solutions Ltd. (BIN)

Industry: Waste Management

Market-Cap: $2.76 billion

Price: $24

RSI (14): 31.22

Performance YTD: -3.15 percent

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.

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Results for BIN
1 Sep 14 03:12:12
Progressive Waste Solutions Rating Increased to Outperform at BMO Capital Markets $BIN http://t.co/5iG4OdqImj
29 Aug 14 05:34:34
Progressive Waste Solutions Stock Rating Upgraded by BMO Capital Markets $BIN http://t.co/K6tQfGURmd
28 Aug 14 20:11:31
$BIN above $27 looks good. Nice multi-year consolidation
Nine Stocks
28 Aug 14 17:46:26
MA10-MA50 Bull Crossover Stocks (Aug. 28): $AMAT, $BIN, $HE, $NXPI, $SIG, $XEL http://t.co/j0E6eWcVya
Biz Headlines
28 Aug 14 16:07:48
$BIN: North Carolina Douses Film Incentives After Tea Party Pushback http://t.co/Hu0iYYasAk http://t.co/eCLFBnqUr1
Declan Fallon
28 Aug 14 14:26:17
Stock Breakout: August 28th: 18 breakouts: $LVNTA, $BIN (gap). Four sub-$1, four $1-2. The two candidates are ... http://t.co/7ITBe8EBoP
Declan Fallon
28 Aug 14 14:09:13
18 breakouts: $LVNTA, $BIN (gap). Four sub-$1, four $1-2. The two candidates are okay, but I don't like the presence of the 8 penny stocks.
Shiraz Lakhi
28 Aug 14 08:58:45
Breaking: Top MIDCAP #stocks in-play on STRONG-VOLUME-SPIKE $BIN $PLL $SIG $CSTM $BTE +more (click "View") http://t.co/nMVF5jQAD3
Barry Schwartz
28 Aug 14 08:46:46
Progressive waste announces a big share buyback and gets a $30 price target from BMO to boot. Can't throw that away. $BIN
Financial Advise
28 Aug 14 07:26:48
#stocks Upgrades: Progressive Waste $BIN and Knight Therapeutics $GUD (Outperforms at BMO/National) Canacol Energy $CNE (TD Action List Buy)
Stock News Updates
28 Aug 14 07:07:51
$BIN: Tetra Tech Q3 Earnings Miss on Weak RCM Business, Guides Low http://t.co/ELprulXQBj http://t.co/S69gav8hI5
The Fly
28 Aug 14 06:57:33
$COT $FHN $NTIOF $GOLD $ALU $CHA $BIN $IEC On The Fly: Analyst Upgrade Summary: Full Story http://t.co/OkZcUSr5Wt
Sleek Money
28 Aug 14 06:22:46
BMO Capital Markets Upgrades Progressive Waste Solutions to “Outperform” $BIN http://t.co/MCxblZhWUB
Ticker Report
28 Aug 14 05:43:59
Progressive Waste Solutions Upgraded to “Outperform” by BMO Capital Markets $BIN http://t.co/WmtMOkHK4j
Darcy Keith
28 Aug 14 05:28:21
BMO upgrades Progressive Waste Solutions to outperform from market perform and raised its price target to $30 US from $26 $BIN.CA $BIN
Media Sentiment
28 Aug 14 05:28:07
$BIN received a new alert. Find out why at http://t.co/5udYd0Ofs6 #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 85
Analyst Ratings
28 Aug 14 05:26:43
Progressive Waste Solutions Ltd upgraded by BMO Capital Markets to outperform. http://t.co/dyzL1QKjlU $BIN #BIN
US Banking News
28 Aug 14 05:24:54
Progressive Waste Solutions Raised to “Outperform” at BMO Capital Markets $BIN http://t.co/S2LR9ZdobN
US Consumer News
28 Aug 14 05:18:50
Progressive Waste Solutions Ltd upgraded by BMO Capital Markets to outperform. http://t.co/ssCfRd4t8L $BIN #BIN
26 Aug 14 07:16:12
$BIN - Report of Foreign Issuer (6-k) http://t.co/kyljXrDtbp
The Fly
26 Aug 14 05:04:38
$BIN Progressive Waste renews normal course issuer bid: Full Story http://t.co/QtIIIbUGzr
By  +Follow January 9, 2014 11:06AM



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