Focus on oversold stocks like Micron Technology and Biogen Inc for potential growth opportunities.

From Nasdaq.: 2024-10-10 09:45:00

In 2024, the SPDR S&P 500 ETF (NYSE: SPY) is up over 21% YTD and trading at all-time highs, leading investors to chase high-flying stocks at all-time highs. Instead, focusing on oversold stocks may be more rewarding, with strategies like valuation metrics and technical indicators to identify potential opportunities. Micron Technology, Inc. (NASDAQ: MU) recently posted a strong earnings beat, with EPS of $1.18 and revenue of $7.75 billion, signaling strong growth potential and analyst optimism for a 40.5% upside.

Biogen Inc. (NASDAQ: BIIB) is down nearly 30% YTD, leaving the stock in oversold and undervalued territory with an RSI of 36. Despite modest revenue growth, analysts forecast a 47% upside, making it attractive for long-term investors seeking a turnaround play. Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) has pulled back to critical support levels near its 200-day SMA and is showing signs of potential recovery with strong historical performance, robust financials, and upcoming earnings.



Read more at Nasdaq.:: These 3 Stocks Are Screaming Oversold: Seize the Opportunity