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.
MediaAlpha, Inc. (NYSE: MAX)
- MediaAlpha is expected to release first quarter 2023 financial results on May 4, 2023 after market close. The company’s stock has a 52-week low of $6.04 .
- RSI Value: 24.35
- MAX Price Action: Shares of MediaAlpha fell 8.1% to close at $6.14 on Wednesday.
- QuinStreet posted better-than-expected quarterly earnings. "Fiscal Q3 results were strong," commented Doug Valenti, CEO of QuinStreet. "We delivered record quarterly revenue. Adjusted EBITDA jumped to $9 million in the quarter." The company’s stock has a 52-week low of $8.69.
- RSI Value: 24.22
- QNST Price Action: Shares of QuinStreet fell 5.6% to close at $9.70 on Wednesday.
- Pinterest reported an increase in total costs and expenses in Q1. The company’s stock has a 52-week low of $16.14.
- RSI Value: 26.78
- PINS Price Action: Shares of Pinterest fell 2.2% to close at $20.91 on Wednesday.
- VEON reported Q1 total revenues of $884 million. The company’s 52-week low is $14.44.
- RSI Value: 21.93
- VEON Price Action: Shares of VEON rose 2.5% to close at $18.75 on Wednesday.
- Exane BNP Paribas analyst Nicolas Langlet upgraded Activision Blizzard from Neutral to Outperform. The company has a 52-week low of $70.94.
- RSI Value: 29.95
- ATVI Price Action: Shares of Activision Blizzard fell 1% to close at $75.23 on Wednesday.
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