Top 3 Defensive Stocks That Are Preparing To Pump This Month

The most oversold stocks in the consumer staples sector presents an opportunity to buy into undervalued companies.

The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro.

Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.

Instacart CART

• On April 3, Wells Fargo analyst Ken Gawrelski maintained Maplebear with an Equal-Weight rating and lowered the price target from $47 to $44. The company’s stock fell around 6% over the past month and has a 52-week low of $29.84.
• RSI Value:30
• CART Price Action: Shares of Instacart fell 6.6% to close at $37.37 on Friday.
• Edge Stock Ratings: 73.72 Momentum score with Value at 57.23.

Walmart Inc WMT          

• On March 20, Stifel analyst Mark Astrachan maintained Walmart with a Hold and lowered the price target from $99 to $93. The company’s stock fell around 9% over the past month and has a 52-week low of $58.56.
• RSI Value: 29.5
• WMT Price Action: Shares of Walmart dipped 4.7% to close at $83.19 on Friday.
• Benzinga Pro’s charting tool helped identify the trend in WMT stock.

Archer-Daniels-Midland Co ADM

• On March 27, ADM And Mitsubishi signed a memorandum of understanding to explore potential areas of collaboration across agriculture supply chain. The company’s stock fell around 12% over the past month and has a 52-week low of $43.01.
• RSI Value: 22.4
• ADM Price Action: Shares of Archer-Daniels-Midland fell 8.9% to close at $43.32 on Friday.
• Benzinga Pro’s signals feature notified of a potential breakout in ADM shares.

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