Top 4 Tech & Telecom Stocks That May Crash In Q2

Author: Avi Kapoor | April 08, 2024 02:40pm

As of April 8, 2024, four stocks in the communication services sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

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 overbought when the RSI is above 70, according to Benzinga Pro.

Here’s the latest list of major overbought players in this sector.

Townsquare Media, Inc. (NYSE:TSQ)

• On March 15, Townsquare Media posted upbeat quarterly results. “I am pleased to share that Townsquare’s fourth quarter results met or exceeded our previously issued guidance, and our full year results met the guidance that we issued at the start of 2023. 2023 net revenue (excluding political) decreased -0.9% year-over-year, and -1.9% in total, to $454.2 million, the second highest revenue amount in Townsquare’s history,” commented Bill Wilson, Chief Executive Officer of Townsquare Media, Inc. The company’s stock gained around 14% over the past five days and has a 52-week high of $13.57.
• RSI Value: 78.94
• TSQ Price Action: Shares of Townsquare Media gained 7.4% to trade at $13.48 on Monday.

Sohu.com Limited (NASDAQ:SOHU)

• On March 4, Sohu.com posted a narrower-than-expected quarterly loss. The company’s stock gained around 24% over the past month and has a 52-week high of $14.55.
• RSI Value: 75.83
• SOHU Price Action: Shares of Sohu.com gained 0.8% to trade at $11.46 on Monday.

So-Young International Inc. (NASDAQ:SY)

• On March 20, So-Young Intl posted stronger-than-expected quarterly earnings. The company’s stock gained around 11% over the past five days and has a 52-week high of $2.98.
• RSI Value: 70.11
• SY Price Action: Shares of So-Young International gained 4.4% to trade at $1.20 on Monday.

MediaCo Holding Inc. (NASDAQ:MDIA)

• On April 4, an SEC filing showed Standard General L.P. reported a 95.2% stake in the company, as of April 1. The company’s stock jumped around 266% over the past five days and has a 52-week high is $6.86.
• RSI Value: 72.11
• MDIA Price Action: Shares of MediaCo Holding fell 25% to trade at $2.90 on Monday.

 

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Posted In: MDIA SOHU SY TSQ