Top 4 Tech & Telecom Stocks That May Rocket Higher In July
Author: Lisa Levin | July 21, 2023 07:45am
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.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Cineverse Corp. (NASDAQ:CNVS)
- Cineverse said it has extended their relationship with longtime partner VA Media to continue expanding their channels' global footprint on YouTube and other social platforms. The company’s stock has a 52-week low of $0.25 .
- RSI Value: 26.24
- CNVS Price Action: Shares of Cineverse fell 2.4% to close at $1.64 on Thursday.
Fangdd Network Group Ltd. (NASDAQ:DUO)
- Fangdd Network announced an $8 million registered direct offering of 11,428,565 shares at a purchase price of $0.70 per share. It has a 52-week low of $0.1950.
- RSI Value: 23.61
- DUO Price Action: Shares of Fangdd Network fell 8.6% to close at $0.2011 on Thursday.
Spark Networks SE (NASDAQ:LOV)
- Spark Networks said Colleen Birdnow Brown will step in as interim CEO. The company’s stock has a 52-week low of $0.19.
- RSI Value: 26.93
- LOV Price Action: Shares of Spark Networks fell 1.4% to close at $0.2019 on Thursday.
Mobiquity Technologies, Inc. (NASDAQ:MOBQ)
- Mobiquity Technologies and Optical Near ME announced a strategic partnership into the immersive optometry advertising market. "With this partnership, we're looking forward to empowering eyecare businesses with the tools they need to thrive in this rapidly evolving landscape," said Dean Julia, CEO of Mobiquity Technologies. The company’s 52-week low is $0.04.
- RSI Value: 27.34
- MOBQ Price Action: Shares of Mobiquity Technologies fell 4.5% to close at $0.0860 on Thursday.
Read More: Investor Sentiment Declines After Nasdaq Falls 2%
Posted In: CNVS DUO LOV MOBQ
