The most oversold stocks in the information technology 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.
ChipMOS Technologies Inc – ADR (NASDAQ:IMOS)
- On June 10, ChipMOS reported an 8.8% month-over-month increase in May revenue. The company’s stock fell around 5% over the past five days and has a 52-week low of $12.78.
- RSI Value: 29.4
- IMOS Price Action: Shares of ChipMOS Technologies fell 2.2% to close at $18.11 on Monday.
- Edge Stock Ratings: 21.57 Momentum score with Value at 98.62.
Clearone Inc (NASDAQ:CLRO)
- On June 30, ClearOne announced a special one-time stock dividend. The company’s stock fell around 61% over the past six months and has a 52-week low of $4.35.
- RSI Value: 26.7
- CLRO Price Action: Shares of Clearone gained 6.1% to close at $5.86 on Monday.
- Benzinga Pro’s charting tool helped identify the trend in CLRO stock.
Foxo Technologies Inc (NYSE:FOXO)
- On May 20, FOXO Technologies posted a first-quarter loss of 37 cents per share, versus a year-ago loss of 24 cents per share. The company’s stock fell around 54% over the past month and has a 52-week low of $0.18.
- RSI Value: 28
- FOXO Ltd Price Action: Shares of Foxo Technologies fell 2.6% to close at $0.18 on Monday.
- Benzinga Pro’s signals feature notified of a potential breakout in FOXO shares.
Learn more about BZ Edge Rankings—click to see scores for other stocks in the sector and see how they compare.
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