3 Oversold Blue-Chip Stocks to Buy for July A bear market ravages equities, and few have been spared. Even blue-chip stocks which boast the best balance sheets in the land have been battered. But nothing goes straight down, and oversold stocks often rebound when you least expect it. It’s a byproduct of mean reversion which pulls extended stock prices back after they get too stretched in one direction or the other. Below are three oversold blue-chip stocks to buy for July. The process of discovering them was simple. First, I pulled open a list of the SP 100, which includes the biggest 100 companies on the planet. These blue-chip stocks are battle-tested industry titans with a history of weathering economic downturns. Second, I sorted the companies by their Relative Strength Index (or RSI) to identify who was the most oversold. Third, I looked through the bottom quintile to nail down those with the most compelling setups. These were the three that rose above the rest. Ticker Company Recent Price CVX Chevron $143.65 DOW Dow Inc. $52.48 JPM JPMorgan Chase $114.54 Blue-Chip Stocks: Chevron ( CVX ) Daily Chart RSI Reading: 32 CVX ) stock chart with oversold setup at 200 MA.” width=”1857″ height=”867″ |