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.
Orange S.A. (NYSE:ORAN)
- On April 17, JP Morgan analyst Akhil Dattani reinstated Orange with an Overweight rating. The company's stock fell around 9% over the past five days and has a 52-week low of $10.27.
- RSI Value: 23.57
- ORAN Price Action: Shares of Orange fell 2.7% to close at $10.28 on Wednesday.
- Benzinga Pro's real-time newsfeed alerted to latest Orange's news.
Sify Technologies Limited (NASDAQ:SIFY)
- On June 10, Sify announced the voluntary delisting date of its ADS rights from Nasdaq. The company's stock fell around 52% over the past five days. It has a 52-week low of $0.40.
- RSI Value: 23.85
- SIFY Price Action: Shares of Sify fell 0.5% to close at $0.45 on Wednesday.
- Benzinga Pro's charting tool helped identify the trend in Sify's stock.
VS Media Holdings Ltd (NASDAQ:VSME)
- On June 10, VS Media Holdings announced a 1-for-7 share combination. The company's stock fell around 30% over the past five days and has a 52-week low of $0.19.
- RSI Value: 23.90
- VSME Price Action: Shares of VS Media Holdings gained 3.2% to close at $0.22 on Tuesday.
- Benzinga Pro's signals feature notified of a potential breakout in VS Media's shares.
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