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Top 5 Tech Stocks That Are Preparing To Pump This Quarter

Published 15/05/2023, 12:51
Updated 15/05/2023, 14:10
© Reuters.  Top 5 Tech Stocks That Are Preparing To Pump This Quarter

© Reuters. Top 5 Tech Stocks That Are Preparing To Pump This Quarter

Benzinga - 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.

Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.

AgileThought, Inc. (NASDAQ: AGIL)

  • AgileThought posted a narrower-than-expected quarterly loss. “I am proud of our first quarter achievements. While the revenues in the quarter were below our guidance, impacted by the recent market volatility, we took strides in building our pipeline and feel strongly about the second half of this year,” said AgileThought Chief Executive Officer Manuel Senderos. The company’s stock has a 52-week low of $0.99 .
  • RSI Value: 21.78
  • AGIL Price Action: Shares of AgileThought fell 35.7% to close at $0.99 on Friday.
Diebold Nixdorf, Incorporated (NYSE: DBD)
  • Diebold Nixdorf reported worse-than-expected first-quarter sales results. The company’s stock has a 52-week low of $0.32.
  • RSI Value: 23.96
  • DBD Price Action: Shares of Diebold Nixdorf fell 9.1% to close at $0.3285 on Friday.
Cyxtera Technologies, Inc. (NASDAQ: CYXT)
  • Starboard Value said Jeff Smith resigned from the board of Cyxera and representatives of Starboard Value ceased serving as observers on the board. The company’s stock has a 52-week low of $0.1650.
  • RSI Value: 27.10
  • CYXT Price Action: Shares of Cyxtera Technologies fell 6.9% to close at $0.1786 on Friday.
Coherent Corp. (NYSE: COHR)
  • Coherent reported worse-than-expected third-quarter financial results. “We posted third quarter revenues of $1.24 billion up 4% year over year on a pro forma basis. Revenue grew 50% on a reported basis compared to Q3 of FY22 and declined 9% sequentially. We were intensely focused on controlling costs, managing cash and continuing our disciplined approach to capital allocation and design wins,” said Dr. Vincent D. Mattera, Jr., Chair and CEO. The company’s 52-week low is $26.29.
  • RSI Value: 25.30
  • COHR Price Action: Shares of Coherent fell 4.6% to close at $27.81 on Friday.
GDS Holdings Limited (NASDAQ: GDS)
  • GDS Holdings reported fourth-quarter FY22 net revenue growth of 9.9% year-on-year to $348.6 million, beating the consensus of $343.5 million. “Despite the challenging operating environment in 2022, we continued to grow our business and extend our reach outside of China,” said Mr. William Huang, Chairman and Chief Executive Officer. The company has a 52-week low of $8.41.
  • RSI Value: 24.82
  • GDS Price Action: Shares of GDS fell 4% to close at $11.01 on Friday.

Read More: JPMorgan Chase, Yum China And 2 Other Stocks Insiders Are Selling

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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