NAMM

• Alphabet Inc. Stock Surge: Shares of Alphabet Inc. rose 5.8% in pre-market trading after a U.S. judge ruled that Google does not need to divest its Android operating system or sell Google Chrome in the ongoing online search monopoly case.

• Pre-Market Stock Movements: Several stocks experienced significant changes in pre-market trading, with Solidion Technology, Inc. gaining 130.1%, while SmartKem, Inc. saw a decline of 21.4% after a previous surge.

Oversold Stocks in the Materials Sector

• Opportunity for Investors: The materials sector is currently presenting opportunities to invest in undervalued companies, particularly those identified as oversold based on their Relative Strength Index (RSI), which is considered oversold when below 30.

Key Oversold Stocks

• Harmony Gold Mining Company Ltd (HMY):

  • Recently rated with a Market Perform by BMO Capital, with a price target of $16.
  • The stock has decreased by approximately 20% over the last five months, reaching a 52-week low of $7.97.
  • Current RSI is 29.5, and shares closed at $12.61 after a 14% drop.

• Namib Minerals (NAMM):

  • Recently completed a business combination and is now listed on Nasdaq under the ticker NAMM.
  • The stock has fallen about 36% in the past month, with a 52-week low of $2.56.
  • Current RSI is 24.7, and shares closed at $2.90 after a slight decline of 0.7%.

• Bioceres Crop Solutions Corp (BIOX):

  • Oppenheimer maintained an Outperform rating but lowered the price target from $7 to $6.
  • The stock has decreased by around 21% in the last month, with a 52-week low of $2.60.
  • Current RSI is 29.7, and shares gained 6.3% to close at $2.87.

Additional Insights

• Benzinga Pro Tools: The platform's charting tools have been instrumental in identifying trends for the stocks mentioned, providing valuable insights for potential investors.
• Edge Stock Ratings: The stocks have varying momentum and value scores, with Harmony Gold at 86.17 for momentum and 81.52 for value, indicating strong potential for recovery.

• Investment Opportunity in Oversold Stocks: The materials sector has several oversold stocks, identified by their RSI values below 30, indicating potential buying opportunities for undervalued companies like Celanese Corp, Namib Minerals, and Intrepid Potash Inc.

• Recent Stock Performance: Celanese's stock fell 29% recently with an RSI of 26.6, Namib Minerals dropped 66% with an RSI of 19.5, and Intrepid Potash saw a 17% decline with an RSI of 27.4, despite positive earnings reports.