Hit the Buy Button on These 3 Oversold Stocks, Say Analysts
- Date: 20-May-2022
- Source: Yahoo News
- Sector:Financial Markets
- Country:Middle East
Hit the Buy Button on These 3 Oversold Stocks, Say Analysts
Rising interest rates, supply chain constraints and Russia’s invasion of Ukraine are all issues currently plaguing the macro climate. The problem with all three, says Tony Dwyer, Canaccord Chief Market Strategist, is that for each problem there’s “no easy exit strategy.”
The tough conditions are likely to persist, then. However, on the plus side, while these issues have sent most corners of the stock market into a tailspin, now investors are presented with stocks for which the term “oversold” readily applies.
“Our playbook remains the same – our tactical indicators are oversold/ pessimistic enough to suggest a summer rally that should make up losses from here,” Dwyer commented.