Benzinga - 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.
VEON Ltd. (NASDAQ: VEON)
- VEON reported a fourth-quarter FY22 revenue decline of 4.9% year-on-year to $940 million (+18.6% Y/Y in local currency). Kaan Terzioğlu, VEON’s CEO said, “In the final quarter of 2022, we added further operational momentum and recorded double-digit local currency revenue growth in five of our countries, doubling the growth rate from a year ago.” The company’s stock has a 52-week low of $14.44 .
- RSI Value: 17.26
- VEON Price Action: Shares of VEON rose 0.1% to close at $18.00 on Tuesday.
- The company’s stock dropped 48% over the past month. The company’s stock has a 52-week low of $0.2530.
- RSI Value: 20.09
- BBIG Price Action: Shares of Vinco Ventures fell 17.5% to close at $0.2541 on Tuesday.
- Lee Enterprises posted downbeat Q1 results. “Lee delivered strong first quarter digital growth with consistent execution of our Three Pillar Digital Growth Strategy,” said Kevin Mowbray, President and Chief Executive Officer. The company’s stock has a 52-week low of $12.17.
- RSI Value: 22.09
- LEE Price Action: Shares of Lee Enterprises dropped 0.7% to close at $12.30 on Tuesday.
- Mobiquity Technologies launched Mobi-AI engine for digital advertising. The company’s 52-week low is $0.15.
- RSI Value: 26.11
- MOBQ Price Action: Shares of Mobiquity Technologies fell 1.2% to close at $0.1630 on Tuesday.
- The company’s stock dipped 42% over the previous month. The company has a 52-week low of $1.05.
- RSI Value: 27.63
- ASST Price Action: Shares of Asset Entities fell 5.3% to close at $1.08 on Tuesday.
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