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 SA (NYSE:ORAN)
- On April 17, JP Morgan analyst Akhil Dattani reinstated Orange with an Overweight rating. The company's stock fell around 13% over the past month and has a 52-week low of $9.82.
- RSI Value: 28.88
- ORAN Price Action: Shares of Orange fell 0.5% to close at $9.96 on Thursday.
- Benzinga Pro's real-time newsfeed alerted to latest ORAN's news.
MediaAlpha Inc (NYSE:MAX)
- On June 26, TD Cowen downgraded the stock from Buy to Hold and lowered its price target from $19 to $13. The company's stock fell around 20% over the past five days. It has a 52-week low of $7.62.
- RSI Value: 22.04
- MAX Price Action: Shares of MediaAlpha fell 0.2% to close at $13.05 on Thursday.
- Benzinga Pro's charting tool helped identify the trend in MAX's stock.
Baidu Inc (NASDAQ:BIDU)
- On June 21, Loop Capital analyst Rob Sanderson maintained Baidu with a Buy and lowered the price target from $155 to $130. The company's stock fell around 13% over the past month and has a 52-week low of $87.01.
- RSI Value: 23.33
- BIDU Price Action: Shares of Baidu fell 1.3% to close at $87.04 on Thursday.
- Benzinga Pro's signals feature notified of a potential breakout in BIDU's shares.
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