Top 3 Tech Stocks Which Could Rescue Your Portfolio This Month

Author: Avi Kapoor | January 30, 2024 08:10am

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.

Calix, Inc. (NYSE:CALX)

On Jan. 29, Calix issued first-qiarter adjusted EPS and revenue guidance below estimates.. The company’s stock fell more than 1% over the past five days and has a 52-week low of $31.95 .
RSI Value: 26.26
CALX Price Action: Shares of Calix gained 3.3% to close at $44.35 on Monday.

GDS Holdings Limited (NASDAQ:GDS)

On Nov. 22, GDS Holdings reported a third-quarter net revenue growth of 6.4% Y/Y to $345.26 million, missing the consensus of $351.73 million. Chair and CEO Mr. William Huang said, "In China, we won new business based on firm move-in schedules, and we continued to accelerate backlog delivery. In South East Asia, our first data center came into service, and the anchor customer started to move in." The company’s stock fell around 34% over the past month. It has a 52-week low of $5.29.
RSI Value: 25.94
GDS Price Action: Shares of GDS Holdings closed at $5.77 on Monday.

Aehr Test Systems (NASDAQ:AEHR)

On Jan. 9, Aehr Test Systems reported quarterly results and lowered its full-year revenue guidance. “In the last sixty days, we have seen how the slowing of the growth rate of the electric vehicle market has had a negative impact on the timing of several current and new customer orders and capacity increases for silicon carbide devices used in them,” said Gayn Erickson, president and CEO of Aehr Test Systems. The company’s stock fell around 35% over the past month and has a 52-week low of $15.53.
RSI Value: 27.60
AEHR Price Action: Shares of Aehr Test Systems gained 2.7% to close at $16.19 on Monday.

Posted In: AEHR CALX GDS