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7 Industrial Goods Stocks Near or In Oversold Territory

By  +Follow January 9, 2014 11:06AM
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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
BNK Invest
22 May 15 08:51:23
Progressive Waste Solutions $BIN Shares Cross Below 200 DMA $EVX #stocks http://t.co/DrPE5Dtbbe
Faryan Amir-Ghassemi
22 May 15 08:16:29
@FaryanAM 3. "Event/Catalyst" - $YHOO $TRCO $DD $BIN $DRI 4. "Heavy Action" $JD $IBKR $ZTS $VOYA $ASPX $SABR $AVID $TKMR $BSFT $RTRX $DVAX
Becky Hiu
21 May 15 08:06:39
"@Partridge: $BIN YO! garbage $WM" Yeah my rubbish stocks are trading well today. ;) http://t.co/eKaF8ghpuB blog post
BreakingStocksNews
21 May 15 08:03:02
$BIN: Progressive Waste Solutions Ltd. is Expected to Report $0.32 for Q1: http://t.co/PSLwBLGWtu
Breaking News Now
20 May 15 13:50:02
$BIN: New SEC Filing for BIN: Form 6-K (No. 0001102624-15-000866): http://t.co/V78mfhQqFb
SEC Filings Reporter
20 May 15 13:49:13
NEW SEC Filing for $BIN filed a moment ago: http://t.co/3onDPBhS4m http://t.co/hP5I2kRhTg
Jake13
19 May 15 06:11:03
ATUSF EOD Data Click Here -> http://t.co/spwCPhZBFh Trending $ATUSF $ETFLF $BIN $NIM #ATUSF #stocks #investing
DennyT
18 May 15 15:04:05
SSREF Ask Click Here -> http://t.co/szCkezG4MD Trending $SSREF $BIN $CFNB $LORL #SSREF #tradeideas #tradeideas
Investors Hangout
18 May 15 14:13:06
ATLCF EOD Data Click Here -> http://t.co/7OkFBFm0zV Trending $ATLCF $BLCK $BIN $BJCT #ATLCF #invest #stocks
Penny Stock Secret
18 May 15 08:02:41
Ranks #1 with over 80% in alert gains today. Click here http://t.co/NovWYe2RAx .. $BIG $BIN $BIO
BreakingStocksNews
15 May 15 13:23:03
$BIN: Progressive Waste Solutions Ltd. Announces Results of Annual ...: http://t.co/lKFUJz6t8L
NASDAQ
15 May 15 09:55:15
$BIN - Report of Foreign Issuer (6-k) http://t.co/QD2QAjyouZ
Breaking News
15 May 15 09:55:03
$BIN: New SEC Filing for BIN: Form 6-K (No. 0001104659-15-038584): http://t.co/6sV37GCFK5
SEC Filings
15 May 15 09:54:03
NEW SEC Filing for $BIN filed a moment ago: http://t.co/mgx0tRp4vp http://t.co/u3WfNrtg8m
clayton
15 May 15 09:17:35
ARIO Chart Click Here -> http://t.co/Bm0pd2Eb93 Trending $ARIO $PKTEF $TORXF $BIN #ARIO #stock #stock
				
				
By  +Follow January 9, 2014 11:06AM
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