The most oversold stocks in the consumer discretionary 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.

Standard Motor Products, Inc. (NYSE:SMP)

• On Feb. 22, Standard Motor Products reported worse-than-expected fourth-quarter financial results and issued guidance. Mr. Eric Sills, Standard Motor Products' Chairman and Chief Executive Officer stated, "Overall we were disappointed in our results. Sales were down 1% in 2023, with the fourth quarter finishing softer than expected, down 5.7% from last year. As we look at our two end markets, we were very pleased with the continued solid performance in our Engineered Solutions business as we experienced strong growth with both new and existing customers." The company’s stock fell around 22% over the past month and has a 52-week low of $30.09 .
• RSI Value: 29.40
• SMP Price Action: Shares of Standard Motor Products gained 0.4% to close at $31.14 on Wednesday.

Foot Locker, Inc. (NYSE:FL)

• On March 6, Foot Locker reported fourth-quarter FY23 sales growth of 2% year-on-year to $2.38 billion, beating the analyst consensus estimate of $2.28 billion. The company’s stock fell around 23% over the past month. It has a 52-week low of $14.84.
• RSI Value: 28.57
• FL Price Action: Shares of Foot Locker fell 4.8% to close at $23.18 on Wednesday.

Stitch Fix, Inc. (NASDAQ:SFIX)

• On March 4, Stitch Fix reported quarterly losses of 30 cents per share which missed the analyst consensus estimate of losses of 20 cents per share. “The original Stitch Fix vision, to create an easier and more enjoyable way for people to shop for clothing and accessories, remains both relevant and compelling,” said Matt Baer, CEO of Stitch Fix. The company’s stock fell around 38% over the past month and has a 52-week low of $2.30.
• RSI Value: 28.03
• SFIX Price Action: Shares of Stitch Fix fell 0.9% to close at $2.32 on Wednesday.

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