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.
Rum Group Inc (NASDAQ:RUM)
- RUM Group announced that it will release financial results for the fiscal quarter ended Sept. 30, before market open on Wednesday, Nov. 11. The company’s stock fell around 25% over the past month and has a 52-week low of $4.62.
- RSI Value: 29.4
- RUM Price Action: Shares of RUM Group gained 1.1% to close at $5.78 on Wednesday.
- Edge Stock Ratings: 16.69 Momentum score.
Lumen Technologies Inc (NASDAQ: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 13% over the past month and has a 52-week low of $4.25.
- RSI Value: 29.2
- LUMN Price Action: Shares of Lumen Technologies gained 2.4% to close at $4.80 on Wednesday.
- Benzinga Pro’s charting tool helped identify the trend in LUMN stock.
Alphabet Inc (NASDAQ:GOOGL)
- After the closing bell on Wednesday, Alphabet posted downbeat financial results for the third quarter. Alphabet reported third-quarter revenue of approximately $127.58 billion, missing analyst estimates of $128.20 billion, according to Benzinga Pro. The Google parent company reported third-quarter earnings of $2.12 per share, which may not compare to estimates of $3.02 per share. The company’s stock fell around 5% over the past month and has a 52-week low of $267.67.
- RSI Value: 20.5
- GOOGL Price Action: Shares of Alphabet gained 1.4% to close at $324.89 on Wednesday.
- Benzinga Pro’s signals feature notified of a potential breakout in GOOGL 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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