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, according to Benzinga Pro.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Lumen Technologies Inc (NYSE:LUMN)
- Lumen Technologies said it will publish its third quarter financial results after the closing bell on Nov. 4. The company’s stock fell around 29% over the past month and has a 52-week low of $4.89.
- RSI Value: 28.9
- LUMN Price Action: Shares of Lumen Technologies fell 1.4% to close at $4.98 on Tuesday.
- Edge Stock Ratings: 7.21 Momentum score.
Angel Studios Inc (NYSE:ANGX)
- On Sept. 18, B. Riley Securities analyst Drew Crum maintained Angel Studios with a Buy and raised the price target from $8 to $9. The company’s stock fell around 32% over the past month and has a 52-week low of $2.04.
- RSI Value: 29.6
- ANGX Price Action: Shares of Angel Studios fell 0.5% to close at $3.73 on Tuesday.
- Benzinga Pro’s charting tool helped identify the trend in ANGX stock.
NIP Group Inc (NASDAQ:NIPG)
- On July 24, NIP Group announced it regained Nasdaq compliance. The company’s stock fell around 43% over the past month and has a 52-week low of $4.20.
- RSI Value: 29.7
- NIPG Price Action: Shares of NIP Group fell 12.3% to close at $8.38 on Tuesday.
- Benzinga Pro’s signals feature notified of a potential breakout in NIPG shares.
Learn more about BZ Edge Rankings—click to see scores for other stocks in the sector and see how they compare.
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