Top 3 Financial Stocks Which Could Rescue Your Portfolio For December – Principal Finl Gr (NASDAQ:PFG), Horizon Tech Finance (NASDAQ:HRZN)

The most oversold stocks in the financial 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.

Horizon Technology Finance Corp HRZN

• On Oct. 29, Horizon Tech Finance posted downbeat quarterly results. “We had a solid third quarter, as we originated a number of new, high-quality loans that returned our portfolio to quarter-over-quarter growth, while we saw the venture debt market begin to improve,” said Robert D. Pomeroy, Jr., Chairman and Chief Executive Officer of Horizon. The company’s stock fell around 9% over the past five days and has a 52-week low of $8.50.
• RSI Value: 14.14                        
• HRZN Price Action: Shares of Horizon Technology Finance fell 6.6% to close at $8.57 on Monday.
• Benzinga Pro’s real-time newsfeed alerted to latest HRZN news.

Pennantpark Floating Rate Capital Ltd PFLT 

• On Dec. 12, PennantPark Floating Rate Capital announced upsize of joint venture. PFLT and its JV partner jointly agreed to invest an additional $100m of capital in PSSL. The company’s stock fell around 3% over the past five days and has a 52-week low of $10.28.
• RSI Value: 28.02
• PFLT Price Action: Shares of Pennantpark Floating Rate Capital fell 1% to close at $10.81 on Monday.
• Benzinga Pro’s charting tool helped identify the trend in PFLT stock.

Principal Financial Group Inc PFG

• On Dec. 11, Wells Fargo analyst Elyse Greenspan downgraded Principal Finl from Equal-Weight to Underweight and lowered the price target from $84 to $75. The company’s stock fell around 9% over the past month and has a 52-week low of $72.21.
• RSI Value: 26.47
• PFG Price Action: Shares of Principal Financial fell 0.3% to close at $78.67 on Monday.
• Benzinga Pro’s signals feature notified of a potential breakout in PFG shares.

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