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.
Entegris Inc (NASDAQ:ENTG)
- On Oct. 20, Citigroup analyst Elizabeth Sun maintained Entegris with a Buy and raised the price target from $170 to $195. The company’s stock fell around 15% over the past month and has a 52-week low of $67.97.
- RSI Value: 29.7
- ENTG Price Action: Shares of Entegris dipped 13.1% to close at $128.31 on Thursday.
- Edge Stock Ratings: 85.46 Momentum score with Value at 13.23.
Applied Optoelectronics Inc (NASDAQ:AAOI)
- On Oct. 15, B. Riley Securities analyst David Kang maintained Applied Optoelectronics with a Neutral and lowered the price target from $109 to $92. The company’s stock fell around 36% over the past month and has a 52-week low of $18.50.
- RSI Value: 29.6
- AAOI Price Action: Shares of Applied Optoelectronics fell 12% to close at $68.07 on Thursday.
- Benzinga Pro’s charting tool helped identify the trend in AAOI stock.
Ouster Inc (NASDAQ:OUST)
- Ouster said it will report its financial results for the third quarter after the market closes on Tuesday, Nov. 3. The company’s stock fell around 30% over the past month and has a 52-week low of $16.40.
- RSI Value: 29.6
- OUST Price Action: Shares of Ouster fell 7.7% to close at $27.98 on Thursday.
- Benzinga Pro’s signals feature notified of a potential breakout in OUST 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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