Top 2 Utilities Stocks That May Jump This Month

Benzinga · 10/14 11:51

The most oversold stocks in the utilities 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.

Sunnova Energy International Inc (NYSE:NOVA)

  • On Oct. 10, Jefferies analyst Julien Dumoulin-Smith initiated coverage on Sunnova Energy Intl with a Buy rating and announced a price target of $15.. The company's stock fell around 43% over the past month and has a 52-week low of $3.37.
  • RSI Value: 29.94
  • NOVA Price Action: Shares of Sunnova Energy gained 1.1% to close at $6.57 on Friday.
  • Benzinga Pro's real-time newsfeed alerted to latest NOVA news.

VivoPower International PLC (NASDAQ:VVPR)          

  • On Oct. 3, VivoPower’s Tembo announced a definitive agreement with pre-eminent jeepney group, Sarao Motors, in the Philippines’ estimated US$10 billion jeepney market. Executive Chairman and CEO of VivoPower, Kevin Chin, said, “We are absolutely honoured that Tembo is partnering with Sarao Motors, a household name in the Philippines that is well recognised and highly respected by the Philippines government and the Filipino people alike. For Sarao to have selected Tembo as its exclusive e-jeepney kits and solutions provider, it is a testament to the considered, careful, and comprehensive approach to the engineering quality and safety that underpins our culture and modus operandi.” The company's stock fell around 59% over the past month. It has a 52-week low of $0.73.
  • RSI Value: 28.53
  • VVPR Price Action: Shares of VivoPower rose 0.1% to close at $0.78 on Friday.
  • Benzinga Pro’s charting tool helped identify the trend in VVPR stock.

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