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, according to Benzinga Pro.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
Kopin Corporation (NASDAQ:KOPN)
- On March 14, Kopin posted downbeat quarterly results. "2023 was a transitional year for Kopin, successfully evolving from a leading provider of microdisplay solutions to becoming an application-specific optical solutions provider," said Michael Murray, Kopin's Chief Executive Officer. The company's stock fell around 34% over the past five days and has a 52-week low of $0.8550.
- RSI Value: 18.19
- KOPN Price Action: Shares of Kopin fell 10.9% to close at $0.8580 on Wednesday.
BigCommerce Holdings, Inc. (NASDAQ:BIGC)
- On April 17, Morgan Stanley analyst Keith Weiss maintained BigCommerce Holdings with an Equal-Weight and lowered the price target from $10 to $8. The company's stock fell around 16% over the past month. It has a 52-week low of $5.72.
- RSI Value: 26.54
- BIGC Price Action: Shares of BigCommerce rose 0.5% to close at $5.83 on Wednesday.
Juniper Networks, Inc. (NYSE:JNPR)
- Juniper Networks is expected to release preliminary financial results for the quarter ending March 31, 2024 on Thursday, April 25 after the closing bell, The company's stock fell around 3% over the past five days and has a 52-week low of $24.87.
- RSI Value: 25.76
- JNPR Price Action: Shares of Juniper Networks fell 1.5% to close at $35.36 on Wednesday.
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