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

Author: Avi Kapoor | May 23, 2024 08:36am

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.

DoubleVerify Holdings, Inc. (NYSE:DV)

On May 16, DoubleVerify announced a $150 million share repurchase program. The company's stock fell around 38% over the past month and has a 52-week low of $17.74.
RSI Value: 24.25
DV Price Action: Shares of DoubleVerify rose 0.7% to close at $18.94 on Wednesday.

NICE Ltd. (NASDAQ:NICE)

On May 16, NICE reported upbeat earnings for its first quarter and issued second-quarter adjusted revenue guidance with its midpoint below estimates. "We are pleased to start the year with positive momentum, evidenced by a robust performance across the board, while continuing to outpace the industry," said Barak Eilam, CEO, NICE. The company's stock fell around 7% over the past five days. It has a 52-week low of $149.54.
RSI Value: 29.06
NICE Price Action: Shares of NICE fell 1.6% to close at $196.58 on Wednesday.

Hollysys Automation Technologies Ltd. (NASDAQ:HOLI)

On May 16, Hollysys Automation Tech posted an increase in quarterly sales. The company's stock fell around 9% over the past month and has a 52-week low of $15.60.
RSI Value: 22.24
HOLI Price Action: Shares of Hollysys Automation fell 0.4% to close at $22.17 on Wednesday.

DXC Technology Company (NYSE:DXC)

On May 17, DXC Technology reported its fourth-quarter financial results. The company reported quarterly earnings of 97 cents per share which beat the analyst consensus estimate of 83 cents by 16.87%. DXC Technology sees fiscal year 2025 adjusted earnings of between $2.50 and $3.00 per share, versus the $3.49 estimate, and full-year revenue in a range of $12.67 billion to $12.95 billion, versus the $13.19 billion estimate. The company's shares lost around 17% over the past five days. The company's 52-week low is $15.45.
RSI Value: 28.94
DXC Price Action: Shares of DXC Technology gained 3.1% to close at $16.41 on Wednesday.

BlackLine, Inc. (NASDAQ:BL)

On May 22, BlackLine announced upsize and pricing of offering of $600,000,000 of convertible senior notes. The company's shares fell around 12% over the past five days. The company has a 52-week low of $47.26.
RSI Value: 27.85
BL Price Action: Shares of BlackLine fell 1.2% to close at $52.02 on Wednesday.

Posted In: BL DV DXC HOLI NICE