4 Cheapest Defensive Stocks You Should Think About

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.

MGP Ingredients, Inc. (NASDAQ: MGPI)

• MGP Ingredients, during November, reported better-than-expected Q3 EPS and sales results. The company’s stock has a 52-week low of $73.02 .
• RSI Value: 28.68
• MGPI Price Action: Shares of MGP Ingredients fell 1.3% to settle at $101.45 on Wednesday and added 3.2% in after-hours trading.

Lifecore Biomedical, Inc. (NASDAQ: LFCR)

• Lifecore Biomedical’s shares have tumbled around 37% over the past six months. The company’s stock has a 52-week low of $6.23.
• RSI Value: 25.74
• LFCR Price Action: Shares of Lifecore Biomedical rose 0.5% to close at $6.38 on Wednesday.

Upexi, Inc. (NASDAQ: UPXI)

• Upexi recently announced record quarter-to-date retail and DTC gross revenue of approximately $19 million. The company’s stock has a 52-week low of $2.53.
• RSI Value: 26.66
• UPXI Price Action: Shares of Upexi fell 2.9% to close at $2.66 on Wednesday and added 3.4% in after-hours trading.

Hempacco Co., Inc. (NASDAQ: HPCO)

• Hempacco recently entered into a consignment agreement with Marijuana Packaging to sell its hemp blunt wraps. The company’s 52-week low is $0.7570.
• RSI Value: 22.28
• HPCO Price Action: Shares of Hempacco dropped 2.4% to close at $0.80 on Wednesday, and added 5% in after-hours trading.

Read More: $1.2 Million Bet On This Healthcare Stock? Check Out These 4 Penny Stocks Insiders Are Buying