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The following is a list of oversold stocks, according to the Relative Strength, or RSI(14), indicator. All of the stocks in this list have RSI(14) readings below 40, which usually signal oversold conditions.

In addition, all of these stocks have seen significant institutional inflows over the last three months.

Will the smart money double down on some of these names, or is this a list of falling knives? Full details below.

RSI(14) data sourced from Finviz, institutional data sourced from Reuters.

The list has been sorted by change in institutional ownership over the last three months.

1. Pharmacyclics Inc. (PCYC): Drug Manufacturer. Market cap of $417.71M. RSI(14) at 29.64. Institutional investors currently own 32,637,569 shares vs. 28,543,681 shares held three months ago (+14.34% change). The stock has gained 265.28% over the last year.

2. Holly Energy Partners L.P (HEP): Oil & Gas Pipelines Industry. Market cap of $1.11B. RSI(14) at 39.54. Institutional investors currently own 9,252,208 shares vs. 8,128,684 shares held three months ago (+13.82% change). The stock has gained 39.36% over the last year.

3. Citi Trends (CTRN): Apparel Stores Industry. Market cap of $349.19M. RSI(14) at 36.71. Institutional investors currently own 16,142,308 shares vs. 15,140,109 shares held three months ago (+6.62% change). The stock has lost -21.38% over the last year.

4. Pegasystems Inc. (PEGA): Business Software & Services Industry. Market cap of $961.04M. RSI(14) at 37.08. Institutional investors currently own 16,333,128 shares vs. 15,905,005 shares held three months ago (+2.69% change). The stock has lost -25.39% over the last year.

5. Capella Education Co. (CPLA): Education & Training Services Industry. Market cap of $1.11B. RSI(14) at 39.4. Institutional investors currently own 17,206,264 shares vs. 16,790,527 shares held three months ago (+2.48% change. The stock has lost -8.19% over the last year.

6. Weyerhaeuser Co. (WY): Lumber, Wood Production Industry. Market cap of $8.22B. RSI(14) at 40.26. Institutional investors currently own 175,330,076 shares vs. 171,182,802 shares held three months ago (+2.42% change). The stock has gained 2.01% over the last year.

7. Barnes & Noble, Inc. (BKS): Specialty Retail Industry. Market cap of $920.69M. RSI(14) at 38.74. Institutional investors currently own 29,788,023 shares vs. 29,262,001 shares held three months ago (+1.8% change). The stock has lost -19.21% over the last year.

8. Copa Holdings SA (CPA): Regional Airlines Industry. Market cap of $2.08B. RSI(14) at 32.99. Institutional investors currently own 30,434,457 shares vs. 29,933,076 shares held three months ago (+1.68% change). The stock has gained 6.87% over the last year.

9. Hudson City Bancorp, Inc. (HCBK): Savings & Loans Industry. Market cap of $6.28B. RSI(14) at 38.71. Institutional investors currently own 321,773,340 shares vs. 317,224,154 shares held three months ago (+1.43% change). The stock has lost -5.54% over the last year.

10. General Maritime Corp. (GMR): Shipping Industry. Market cap of $352.93M. RSI(14) at 35.36. Institutional investors currently own 46,791,836 shares vs. 46,205,594 shares held three months ago (+1.27% change). The stock has lost -51.88% over the last year.

Disclosure: No positions

Source: 10 Oversold Stocks Being Chased by the Smart Money