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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. To read our full disclosure, please go to: http://www.equities.com/disclaimer

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Results for BIN
MyAllies Trading
8 Oct 15 07:16:04
$BIN Progressive Waste Solutions Ltd. Announces Date for Third Quarter 2015 Financial Earnings Release and Co... http://t.co/Ury8xPWlTC
Jami Nord
7 Oct 15 19:02:43
@julichilliard This ends up a hybrid. I ask him each time before I go for opinions or requests. If he has no ideas, &I have no ideas, $bin!
The Legacy News
7 Oct 15 08:27:43
Progressive Waste Solutions Cut to “Sell” at Zacks $BIN http://t.co/m5eIhk2hy1
Ashley Senn
6 Oct 15 14:53:56
RT @nartcr: JBEM's latest homerun is CALA.Details here: https://t.co/HZX7dyxPsD $BHE $BHLB $BIG $BIIB $BIN $BIND $BIO $BIOC
6 Oct 15 09:35:32
$71,000 in ONE TRADE!! By Follwing Their Signals More Info Here http://t.co/8WvnrVmkBS .. $BIG $BIN $BIO
6 Oct 15 08:04:40
JBEM's latest homerun is CALA.Details here: https://t.co/HZX7dyxPsD $BHE $BHLB $BIG $BIIB $BIN $BIND $BIO $BIOC
2 Oct 15 15:33:06
$BIN: Brokerages Set Progressive Waste Solutions Price Target at $32.80 …: http://t.co/vw4FdNLNcj
2 Oct 15 08:27:01
Progressive Waste Solutions Lowered to Sell at Zacks $BIN http://t.co/HtExXKj1bc
1 Oct 15 23:25:02
$BIN is rated BUY, 18.5% upside by Wall Street analysts based on average ratings/targets http://t.co/YPBEHeRffn http://t.co/AWGuQbDapV
US Banking News
1 Oct 15 14:13:28
$BIN - Progressive Waste Solutions Downgraded by Zacks #BIN https://t.co/KOUZZyXHIF
Dakota Financial
1 Oct 15 13:59:40
Zacks Downgrades Progressive Waste Solutions to Sell $BIN https://t.co/aNDrjH0HUv
Consumer News
1 Oct 15 13:56:12
Progressive Waste Solutions Downgraded by Zacks $BIN https://t.co/ywuY8n8F5Q #acn
Ticker Report
1 Oct 15 13:55:05
Zacks Downgrades Progressive Waste Solutions to Sell $BIN https://t.co/Lnff99haVb
US Banking News
1 Oct 15 13:53:11
Zacks Downgrades Progressive Waste Solutions to Sell $BIN https://t.co/jJj9ykHjdv
30 Sep 15 12:31:54
Progressive Waste Solutions Given Average Rating of “Buy” by Analysts $BIN http://t.co/Q5QcB9QcBS
Breaking News Now
30 Sep 15 12:25:06
$BIN: Progressive Waste Solutions Given Average Rating of “Buy” by …: http://t.co/w5umekN95o
By  +Follow January 9, 2014 11:06AM



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