Top 4 Tech And Telecom Stocks That May Rocket Higher In July
Author: Avi Kapoor | July 12, 2024 08:28am
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.
Dolphin Entertainment Inc (NASDAQ:DLPN)
- On May 14, Dolphin Entertainment announced first-quarter earnings that included $15.24 million in revenue, representing a 54% year-over-year increase. "By concentrating on organic expansion among our top-tier marketing entities and launching complementary Ventures at a steady pace, we believe we are strategically positioned for sustained growth in both revenue generation and Adjusted Operating Income, the crucial financial metric against which we gauge our performance," said Bill O'Dowd, CEO of Dolphin Entertainment. The company's stock fell around 14% over the past five days and has a 52-week low of $0.63.
- RSI Value: 23.18
- DLPN Price Action: Shares of Altisource Portfolio Solutions fell 0.6% to close at $0.71 on Thursday.
- Benzinga Pro's real-time newsfeed alerted to latest Dolphin Entertainment news.
Dallasnews Corp (NASDAQ:DALN)
- On May 15, DallasNews posted a first-quarter loss of 25 cents per share, versus a year-ago loss of 49 cents per share. Grant Moise, Chief Executive Officer, said, “I am pleased with the progress we saw in the first quarter reducing our adjusted operating loss 64 percent on a year-over-year basis. This improvement is consistent with the Company’s Return to Growth Plan and reassures me we are on the right path towards future profitability.” The company's stock fell around 15% over the past month. It has a 52-week low of $3.19.
- RSI Value: 24.03
- DALN Price Action: Shares of Dallasnews gained 0.9% to close at $3.24 on Thursday.
- Benzinga Pro's charting tool helped identify the trend in Dallasnews stock.
KORE Group Holdings Inc (NYSE:KORE)
- On July 8, KORE Group named Bruce Gordon as Executive Vice President and Chief Operating Officer. The company's stock dipped around 55% over the past month and has a 52-week low of $1.30.
- RSI Value: 26.37
- KORE Price Action: Shares of KORE Group gained 7% to close at $1.52 on Thursday.
- Benzinga Pro's signals feature notified of a potential breakout in KORE Group shares.
Podcastone Inc (NASDAQ:PODC)
- On June 6, Litchfield Hills analyst Barry Sine initiated coverage on PodcastOne with a Buy rating and announced a price target of $5. The company's shares lost around 27% over the past month. The company's 52-week low is $1.20.
- RSI Value: 28.17
- PODC Price Action: Shares of Podcastone gained 5.4% to close at $1.35 on Thursday.
- Benzinga Pro's earnings calendar was used to track PODC upcoming earnings report.
Read Next:
Posted In: DALN DLPN KORE PODC
