Top 3 Tech And Telecom Stocks That Could Blast Off This Quarter

Author: Avi Kapoor | May 29, 2024 08:23am

The most oversold stocks in the communication services 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.

Tripadvisor, Inc. (NASDAQ:TRIP)

On May 8, TripAdvisor posted better-than-expected quarterly results. In February 2024, TripAdvisor disclosed that it had formed a special committee to evaluate proposals resulting from Liberty Tripadvisor Holdings' stated intention to engage in discussions with respect to a potential transaction or other alternatives. The Special Committee now said it sees no transaction with a third party. However, it will continue to evaluate proposed alternatives as appropriate. The company's stock fell around 34% over the past month and has a 52-week low of $14.15.
RSI Value: 26.09
TRIP Price Action: Shares of Tripadvisor gained 0.2% to close at $17.92 on Tuesday.

Hello Group Inc. (NASDAQ:MOMO)

On May 28, Hello Group posted downbeat quarterly earnings. The company's stock fell around 19% over the past five days. It has a 52-week low of $4.79.
RSI Value: 29.07
MOMO Price Action: Shares of Hello Group fell 12.3% to close at $4.84 on Tuesday.

Saga Communications, Inc. (NASDAQ:SGA)

On May 9, Saga Communications posted a first-quarter GAAP loss of 25 cents per share. The company's stock fell around 22% over the past month and has a 52-week low of $17.82
RSI Value: 18.46
SGA Price Action: Shares of Saga Communications fell 7.5% to close at $18.00 on Tuesday.

Posted In: MOMO SGA TRIP