Top 5 Tech Stocks That Could Blast Off

Author: Lisa Levin | March 31, 2023 08:13am

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.

Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.

Cloopen Group Holding Limited (NYSE:RAAS)

• The company’s stock dropped 37% over the past month. The company’s stock has a 52-week low of $1.34 .
• RSI Value: 24.38
• RAAS Price Action: Shares of Cloopen Group Holding gained 4.3% to close at $1.47 on Thursday.

Casa Systems, Inc. (NASDAQ:CASA)

• Casa Systems posted upbeat quarterly earnings. Casa Systems also said Jerry Guo will retire as President and CEO. The company’s stock has a 52-week low of $1.0320.
• RSI Value: 21.24
• CASA Price Action: Shares of Casa Systems gained 5.4% to close at $1.17 on Thursday.

Smith Micro Software, Inc. (NASDAQ:SMSI)

• Smith Micro Software said it expects to reach profitability no later than end of q3 of fiscal year 2023. The company’s stock has a 52-week low of $0.95.
• RSI Value: 29.30
• SMSI Price Action: Shares of Smith Micro Software gained 0.9% to close at $1.08 on Thursday.

DZS Inc. (NASDAQ:DZSI)

• DZS reported worse-than-expected Q4 results. “Despite a challenging supply chain environment and a strong US dollar in 2022, we remain encouraged and optimistic about our 2023 sales prospects and financial outlook,” said Charlie Vogt, President and CEO of DZS. The company’s 52-week low is $7.81.
• RSI Value: 23.55
• DZSI Price Action: Shares of DZS fell 0.3% to close at $7.98 on Thursday.

Upland Software, Inc. (NASDAQ:UPLD)

• Upland Software reported mixed Q4 financial results. "In Q4, we beat our revenue guidance midpoint, even after FX headwinds," said Jack McDonald, Upland's chairman and chief executive officer. The company has a 52-week low of $3.97.
• RSI Value: 27.67
• UPLD Price Action: Shares of Upland Software fell 1.9% to close at $4.07 on Thursday.

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Posted In: CASA DZSI RAAS SMSI UPLD