Top 3 Tech Stocks Which Could Rescue Your Portfolio This Quarter

Author: Avi Kapoor | January 18, 2024 07:59am

The most oversold stocks in the information technology 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.

SMX (Security Matters) Public Limited Company (NASDAQ:SMX)

• On Jan. 12, SMX secured a $5 million contract with R&I for NATO supply chain transparency. The company’s stock fell around 23% over the past five days and has a 52-week low of $0.3030 .
• RSI Value: 17.48
• SMX Price Action: Shares of SMX gained 1% to close at $0.3290 on Wednesday.

WeTrade Group, Inc. (NASDAQ:WETG)

• On Dec. 1, WeTrade Group said it found an expenditure of $2 million inconsistent with the 2022 annual report from conducted internal investigation. The company’s stock fell around 4% over the past five days. It has a 52-week low of $0.0330.
• RSI Value: 29.70
• WETG Price Action: Shares of WeTrade Group fell 1.1% to close at $3.48 on Wednesday.

Kingsoft Cloud Holdings Limited (NASDAQ:KC)

• On Nov. 21, Kingsoft Cloud Holdings reported a third-quarter FY23 revenue of $222.754 million, missing the consensus of $244.77 million. Tao Zou, Chief Executive Officer of Kingsoft Cloud, commented, "We expect to deepen our strategic planning and engagement with Xiaomi and Kingsoft in their comprehensive AI cloud demand to capture market opportunities, maintain the healthy trajectory of continued profitability improvement, and generate value for our shareholders." The company’s stock fell around 28% over the past month and has a 52-week low of $2.52.
• RSI Value: 27.89
• KC Price Action: Shares of Kingsoft Cloud Holdings fell 1.1% to close at $2.70 on Wednesday.

 

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Posted In: KC SMX WETG