Top 3 Materials Stocks Which Could Rescue Your Portfolio This Quarter

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The most oversold stocks in the materials 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.

Celanese Corp (NYSE:CE)

• On Aug. 12, Celanese reported second-quarter financial results and issued third-quarter adjusted EPS guidance below estimates… The company's stock fell around 29% over the past month and has a 52-week low of $36.29.
• RSI Value: 26.6
• CE Price Action: Shares of Celanese closed at $41.80 on Wednesday.
• Edge Stock Ratings: 5.59 Momentum score with Value at 35.82.

Namib Minerals (NASDAQ:NAMM)       

• On July 31, Namib Minerals issued a corporate update after closing the business combination with Hennessy Capital Investment Corp. VI and listing on the Nasdaq Stock Exchange under the ticker symbol NAMM. The company's stock fell around 66% over the past month and has a 52-week low of $2.61.
• RSI Value: 19.5
• NAMM Price Action: Shares of Namib Minerals closed at $2.93 on Wednesday.
• Benzinga Pro’s charting tool helped identify the trend in NAMM stock.

Intrepid Potash Inc (NYSE:IPI)

• On Aug. 6, Intrepid Potash posted upbeat quarterly earnings. Kevin Crutchfield, Intrepid’s Chief Executive Officer, commented, “In the second quarter, we again delivered results that exceeded our expectations, and I’d like to congratulate the team on achieving strong performance across the board.” The company's stock fell around 17% over the past month and has a 52-week low of $20.86.
• RSI Value: 27.4
• IPI Ltd Price Action: Shares of Intrepid Potash closed at $29.01 on Wednesday.
• Benzinga Pro’s signals feature notified of a potential breakout in IPI shares.

Learn more about BZ Edge Rankings—click to see scores for other stocks in the sector and see how they compare.

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