Top 5 Tech Stocks That Could Lead To Your Biggest Gains This Month

Author: Avi Kapoor | April 04, 2024 08:01am

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.

Luna Innovations Incorporated (NASDAQ:LUNA)

• On March 25, Luna Innovations said Scott Graeff has retired from his role as President and Chief Executive Officer. The company’s stock fell around 53% over the past month and has a 52-week low of $2.97 .
• RSI Value: 23.16
• LUNA Price Action: Shares of Luna Innovations closed at $3.03 on Wednesday.

InterDigital, Inc. (NASDAQ:IDCC)

• On April 1, B of A Securities downgraded the stock from Buy to Underperform and lowered its price target from $140 to $100. The company’s stock fell around 9% over the past five days. It has a 52-week low of $66.82.
• RSI Value: 26.92
• IDCC Price Action: Shares of InterDigital fell 0.8% to close at $95.84 on Wednesday.

Dropbox, Inc. (NASDAQ:DBX)

• On March 22, Citigroup analyst Steven Enders maintained Dropbox with a Neutral and lowered the price target from $31 to $27. The company’s stock fell around 4% over the past five days and has a 52-week low of $19.55.
• RSI Value: 28.89
• DBX Price Action: Shares of Dropbox fell 1.8% to close at $23.48 on Wednesday.

Digital Turbine, Inc. (NASDAQ:APPS)

• On Feb. 7, Digital Turbine reported worse-than-expected third-quarter financial results and issued FY24 adjusted EPS and revenue guidance below estimates. The company’s shares lost around 28% over the past month. The company’s 52-week low is $2.27.
• RSI Value: 24.29
• APPS Price Action: Shares of Digital Turbine fell 2.5% to close at $2.30 on Wednesday.

MongoDB, Inc. (NASDAQ:MDB)

• On March 28, Tigress Financial analyst Ivan Feinseth maintained MongoDB with a Buy and raised the price target from $495 to $500. The company’s shares fell around 23% over the past month. The company has a 52-week low of $198.72.
• RSI Value: 25.98
• MDB Price Action: Shares of MongoDB fell 2.3% to close at $339.82 on Wednesday.

 

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Posted In: APPS DBX IDCC LUNA MDB