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If you're interested in contrarian ideas, you may appreciate this list.

Here we present 24 stocks that are oversold, as measured by the RSI (14) index (readings below 40 indicate oversold conditions). These stocks have also seen net selling from institutional investors for two consecutive quarters.

With such sustained selling pressure on these names, do you think they could be ready for a comeback? Or is this selling indicative of deeper company problems? Use this list as a starting-off point for your own analysis into potential rebound candidates.

List sorted by market cap.

1. Bank of America Corporation (NYSE:BAC): Banking industry. Market cap of $136.53B. RSI(14) at 38.93. Net institutional shares sold during current quarter at 230.2M and 159.6M net shares sold during previous quarter. This is a risky stock that is significantly more volatile than the overall market (beta = 2.21). The stock has lost 27.51% over the last year.

2. Intel Corporation (NASDAQ:INTC): Semiconductor industry. Market cap of $108.35B. RSI(14) at 39.25. Net institutional shares sold during current quarter at 18.5M and 98.6M net shares sold during previous quarter. INTC might be undervalued at current levels, with a PEG ratio at 0.87, and P/FCF ratio at 13.57. The stock has lost 8.88% over the last year.

3. Hewlett-Packard Company (NYSE:HPQ): Diversified computer systems industry. Market cap of $88.83B. RSI(14) at 39.93. Net institutional shares sold during current quarter at 151.4M and 162.8M net shares sold during previous quarter. The stock has lost 23.08% over the last year.

4. Canon Inc. (NYSE:CAJ): Photographic equipment and supplies industry. Market cap of $56.31B. RSI(14) at 39.76. Net institutional shares sold during current quarter at 2.6M and 201.7K net shares sold during previous quarter. CAJ might be undervalued at current levels, with a PEG ratio at 0.83, and P/FCF ratio at 11.69. The stock has lost 8.4% over the last year.

5. Devon Energy Corporation (NYSE:DVN): Independent oil and gas industry. Market cap of $38.11B. RSI(14) at 34.78. Net institutional shares sold during current quarter at 12.4K and 1.8M net shares sold during previous quarter. After a solid performance over the last year, DVN has pulled back during recent sessions. The stock is 5.69% below its SMA20 and 3.97% below its SMA50, but remains 16.77% above its SMA200. The stock has gained 35.5% over the last year.

6. Sony Corporation (NYSE:SNE): Electronic equipment industry. Market cap of $30.38B. RSI(14) at 29.35. Net institutional shares sold during current quarter at 2.7M and 4.9M net shares sold during previous quarter. The stock is currently stuck in a downtrend, trading 6.13% below its SMA20, 12.57% below its SMA50, and 9.47% below its SMA200. The stock has lost 17.38% over the last year.

7. Dominion Resources, Inc. (NYSE:D): Electric utilities industry. Market cap of $25.49B. RSI(14) at 39.11. Net institutional shares sold during current quarter at 5.5M and 3.6M net shares sold during previous quarter. The stock has a relatively low correlation to the market (beta = 0.57), which may be appealing to risk-averse investors. The stock has gained 9% over the last year.

8. Juniper Networks, Inc. (NYSE:JNPR): Networking and communication devices industry. Market cap of $20.64B. RSI(14) at 34.73. Net institutional shares sold during current quarter at 2.8M and 1.7M net shares sold during previous quarter. After a solid performance over the last year, JNPR has pulled back during recent sessions. The stock is 5.66% below its SMA20 and 8.26% below its SMA50, but remains 11.98% above its SMA200. The stock has performed poorly over the last month, losing 10.05%.

9. American Tower Corp. (NYSE:AMT): Diversified communication services industry. Market cap of $19.93B. RSI(14) at 39.91. Net institutional shares sold during current quarter at 2.9M and 7.7M net shares sold during previous quarter. The stock has gained 18.93% over the last year.

10. Nomura Holdings Inc. (NYSE:NMR): Investment brokerage industry. Market cap of $18.30B. RSI(14) at 35.6. Net institutional shares sold during current quarter at 12.3M and 12.7M net shares sold during previous quarter. The stock is currently stuck in a downtrend, trading 5.36% below its SMA20, 15.01% below its SMA50, and 13.39% below its SMA200. The stock has performed poorly over the last month, losing 14.88%.

11. Southwestern Energy Co. (NYSE:SWN): Independent oil and gas industry. Market cap of $13.78B. RSI(14) at 34.81. Net institutional shares sold during current quarter at 2.2M and 4.3M net shares sold during previous quarter. Risk-averse investors may appreciate that SWN has a relatively low correlation to the market (beta = 0.46). It's been a rough couple of days for the stock, losing 7.09% over the last week.

12. Entergy Corporation (NYSE:ETR): Electric utilities industry. Market cap of $11.70B. RSI(14) at 32.41. Net institutional shares sold during current quarter at 6.4M and 6.3M net shares sold during previous quarter. The stock has performed poorly over the last month, losing 11.2%.

13. Kubota Corporation (KUB): Diversified machinery industry. Market cap of $11.63B. RSI(14) at 35.5. Net institutional shares sold during current quarter at 82.1K and 352.8K net shares sold during previous quarter. The stock has gained 0.7% over the last year.

14. Magna International, Inc. (NYSE:MGA): Auto parts industry. Market cap of $11.29B. RSI(14) at 26.25. Net institutional shares sold during current quarter at 96.6K and 6.2M net shares sold during previous quarter. MGA might be undervalued at current levels, with a PEG ratio at 0.91, and P/FCF ratio at 11.43. It's been a rough couple of days for the stock, losing 6.12% over the last week.

15. Goodrich Corp. (NYSE:GR): Aerospace/defense products and services industry. Market cap of $10.58B. RSI (14) at 39. Net institutional shares sold during current quarter at 364.0K and 609.2K net shares sold during previous quarter. The stock has gained 18.36% over the last year.

16. Harley-Davidson, Inc. (NYSE:HOG): Recreational vehicles industry. Market cap of $9.25B. RSI(14) at 36.86. Net institutional shares sold during current quarter at 7.2M and 6.6M net shares sold during previous quarter. This is a risky stock that is significantly more volatile than the overall market (beta = 2.31). The stock has gained 21.8% over the last year.

17. IntercontinentalExchange, Inc. (NYSE:ICE): Diversified investments industry. Market cap of $8.86B. RSI(14) at 39.7. Net institutional shares sold during current quarter at 1.7M and 1.1M net shares sold during previous quarter. The stock has gained 10.68% over the last year.

18. CEMEX, S.A.B. de C.V. (NYSE:CX): Cement industry. Market cap of $8.35B. RSI(14) at 39.02. Net institutional shares sold during current quarter at 3.8M and 26.8M net shares sold during previous quarter. This is a risky stock that is significantly more volatile than the overall market (beta = 2.06). It's been a rough couple of days for the stock, losing 5.55% over the last week.

19. New York Community Bancorp Inc. (NYB): Savings and loans industry. Market cap of $7.56B. RSI(14) at 36.54. Net institutional shares sold during current quarter at 5.1M and 852.3K net shares sold during previous quarter. The stock is a short squeeze candidate, with a short float at 5.77% (equivalent to 7.79 days of average volume). The stock has gained 4.41% over the last year.

20. CarMax Inc. (NYSE:KMX): Auto dealerships industry. Market cap of $7.18B. RSI(14) at 38.82. Net institutional shares sold during current quarter at 1.0M and 2.0M net shares sold during previous quarter. The stock has gained 29.44% over the last year.

21. Hyatt Hotels Corporation (NYSE:H): Lodging industry. Market cap of $7.15B. RSI(14) at 30.29. Net institutional shares sold during current quarter at 973.4K and 1.5M net shares sold during previous quarter. The stock is currently stuck in a downtrend, trading 6.76% below its SMA20, 12.21% below its SMA50, and 5.51% below its SMA200. The stock has gained 3.5% over the last year.

22. Flextronics International Ltd. (NASDAQ:FLEX): Printed circuit boards industry. Market cap of $5.39B. RSI(14) at 34.09. Net institutional shares sold during current quarter at 15.2M and 25.9M net shares sold during previous quarter. The stock has lost 10.59% over the last year.

23. Compagnie G (CGV): Oil and gas equipment and services industry. Market cap of $5.34B. RSI(14) at 39.13. Net institutional shares sold during current quarter at 1.7M and 542.9K net shares sold during previous quarter. This is a risky stock that is significantly more volatile than the overall market (beta = 2.11). The stock has gained 12.58% over the last year.

24. CMS Energy Corp. (NYSE:CMS): Diversified utilities industry. Market cap of $4.77B. RSI(14) at 40.61. Net institutional shares sold during current quarter at 20.9M and 5.6M net shares sold during previous quarter. The stock has gained 23.77% over the last year.

*Institutional data sourced from Fidelity, RSI (14) and all other data sourced from Finviz.

Source: Contrarian Ideas: 24 Oversold Stocks Being Dumped by Big Money Managers