Benzinga - by Lisa Levin, Benzinga Editor.
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.
LQR House Inc. (NASDAQ: LQR)
- LQR House announced a strategic partnership with Cannon Estate Winery for expanded Canadian distribution. Sean Dollinger, CEO of LQR House, said, "Joining forces with Cannon Estate Winery is truly a dream come true for LQR House's Canadian expansion. Navigating the intricacies of cross border alcohol distribution can be challenging, and this collaboration will significantly expedite the process for all LQR House brands, including our prized SWOL Tequila." The company’s stock has a 52-week low of $0.3802 .
- RSI Value: 18.19
- LQR Price Action: Shares of LQR House fell 9.5% to close at $0.39 on Thursday.
- Lytus Technologies disclosed the set up and launch of LYTUS STUDIOS in the USA for its content creation and technology services. Lytus Technologies CEO Dharmesh Pandya said, “We are very keen to expand technology services that are transformative. With LYTUS STUDIOS we will be able to enhance the entertainment experience of our global customers by creating curated content for our upcoming platforms and for the global entertainment world.” It has a 52-week low of $0.1913.
- RSI Value: 28.96
- LYT Price Action: Shares of Lytus Technologies fell 6.7% to close at $0.1949 on Thursday.
- Grom Social priced a $3 million offering. The company’s stock has a 52-week low of $1.26.
- RSI Value: 22.99
- GROM Price Action: Shares of Grom Social Enterprises fell 5.7% to close at $1.32 on Thursday.
- The company’s stock fell 28% over the past month. The company’s 52-week low is $1.30.
- RSI Value: 28.99
- CUEN Price Action: Shares of Cuentas fell 2.9% to close at $1.36 on Thursday.
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