Top 4 Defensive Stocks Which Could Rescue Your Portfolio 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.

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

The Alkaline Water Company Inc. (NASDAQ:WTER)

• On Oct. 9, Alkaline Water Company received deficiency letter from Listing Qualifications Department of Nasdaq. The company’s stock has a 52-week low of $0.2317 .
• RSI Value: 29.52
• WTER Price Action: Shares of Alkaline Water Company fell 8.8% to close at $0.2487 on Monday.

Coffee Holding Co., Inc. (NASDAQ:JVA)

• Delta Corp Holdings Limited advanced merger and share exchange with Coffee Holding Co., Inc. with filing of registration statement. It has a 52-week low of $0.68.
• RSI Value: 28.20
• JVA Price Action: Shares of Coffee Holding fell 2.6% to close at $0.70 on Monday.

The J. M. Smucker Company (NYSE:SJM)

• J.M. Smucker Company penned a deal to sell its Sahale Snacks brand to Second Nature Brands in an all-cash transaction for around $34 million. "This divestiture reflects our continued commitment to portfolio and resource optimization to sharpen our focus and support continued growth. The divestiture of the Sahale Snacks® brand will support continued growth in our Consumer Foods business with enhanced investment in our Smucker's® Uncrustables® brand and building on our leadership in spreads," said Mark Smucker, Chair of the Board, President and CEO. The company’s stock has a 52-week low of $110.49.
• RSI Value: 25.65
• SJM Price Action: Shares of Smucker fell 0.5% to close at $112.72 on Monday.

The Hershey Company (NYSE:HSY)

• Stephens & Co. analyst Jim Salera initiated coverage on Hershey with an Overweight rating and announced a price target of $240. The company’s 52-week low is $186.63.
• RSI Value: 29.55
• HSY Price Action: Shares of Hershey rose 0.5% to close at $191.83 on Monday.

 

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