Stocks

Top 3 Industrials Stocks on the Radar for January Gains

Published January 18, 2024

Investors often search for undervalued opportunities where stocks might be poised for a rebound. Currently, several industrials stocks appear oversold, presenting intriguing prospects for the beginning of the year. The Relative Strength Index (RSI), a momentum oscillator that measures the speed and change of price movements, suggests these stocks could be on the verge of a significant turnaround. The RSI identifies overbought or oversold conditions by comparing the magnitude of a stock's recent gains to the magnitude of its recent losses.

Spotlight on Undervalued Stocks

The industrials sector is a bellwether for economic activity, making it a focus for investors seeking growth. Three particular stocks, each from a distinct corner of the sector, have RSI readings that suggest they're currently oversold and may represent a value-buying opportunity. Those considering an investment in the industrials might want to keep an eye on MRRLF, UNF, and JBT.

Individual Company Insights

MRRLF, while lesser-known, could be a hidden gem for investors looking for market resilience. Moving on to UNF, UniFirst Corporation stands out as a robust player in providing essential workplace uniforms and protective work clothing throughout the U.S., Europe, and Canada, with a reliable client base contributing to a steady cash flow. Based in Wilmington, Massachusetts, their fundamental market positioning provides a degree of economic shelter, with uniform demand remaining stable across varying economic conditions. Further bolstering the list of stocks to watch, JBT, John Bean Technologies Corporation, lends itself to critical consideration due to its role in providing technology solutions to the food and beverage industry, as well as services and equipment for air transportation. Headquartered in Chicago, Illinois, the company's diverse offerings in essential industries could translate to resilience amidst market volatility.

Industrial, Stocks, RSI