3 Oversold Stocks to Buy on the Dip: July 2024

Core Viewpoint - Many investors are increasingly using options trading to manage risk and returns, with the Relative Strength Indicator (RSI) being a key tool for identifying oversold stocks [1][2]. Group 1: Air Products & Chemicals (APD) - Air Products & Chemicals has delivered a total return of 23.67% over the past five years, including a dividend yield of 2.83% [3]. - The company is focusing on investments in green hydrogen, having signed a 15-year contract with TotalEnergies to supply 70,000 tons of green hydrogen annually starting in 2030 [4]. - Air Products is also planning to build a $4 billion green hydrogen plant in Texas and is recognized as the world's leading provider of patented LNG technology and equipment [4]. Group 2: Celsius (CELH) - Celsius manufactures a low-calorie line of energy drinks and has seen significant stock growth since 2020, aided by a distribution agreement with PepsiCo [6]. - Following an oversupply announcement from PepsiCo, CELH stock dropped 33$78.65, suggesting a potential 63% gain from the current stock price [6]. Group 3: Cameco (CCJ) - Cameco, the largest publicly traded uranium company, has an RSI of around 40, down from 66 in early June, correlating with a drop in uranium spot prices [7]. - Despite the decline, uranium prices remain high compared to levels not seen since 2008, with a growing recognition of nuclear energy as a clean renewable energy source [7]. - CCJ stock has shown a total return of 370.25% over the last five years, with earnings expected to grow by over 85% in the next 12 months, indicating significant upside potential [8].