share_log

Top 3 Tech Stocks That May Fall Off A Cliff This Quarter

Benzinga ·  Dec 30, 2024 21:13

As of Dec. 30, 2024, three stocks in the information technology sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

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 overbought when the RSI is above 70, according to Benzinga Pro.

Here's the latest list of major overbought players in this sector.

Ondas Holdings Inc (NASDAQ:ONDS)

  • On Dec. 27, Ondas Holdings announced it regained Nasdaq compliance. The company's stock surged around 216% over the past month and has a 52-week high of $3.10.
  • RSI Value: 73
  • ONDS Price Action: Shares of Ondas jumped 3.2% close at $2.59 on Friday.

Microvision Inc (NASDAQ:MVIS)

  • On Dec. 19, WestPark Capital analyst Casey Ryan initiated coverage on Microvision with a Buy rating and announced a price target of $1.3. The company's stock gained around 56% over the past five days and has a 52-week high of $2.87.
  • RSI Value: 70
  • MVIS Price Action: Shares of Microvision gained 8.6% to close at $1.51 on Friday.

Zenvia Inc (NASDAQ:ZENV)

  • On Nov. 18, Zenvia reported better-than-expected third-quarter sales results and a year-over-year net income increase. Cassio Bobsin, Founder & CEO of ZENVIA, said: "The highlight this quarter was the conclusion of the strategic plan we initiated back in 2018, that allowed us to officially launch the Zenvia Customer Cloud, a significant milestone in our commitment to enhancing customer relationships through practical, AI-driven solutions." The company's stock gained around 37% over the past month and has a 52-week high of $3.88.
  • RSI Value: 71.65
  • ZENV Price Action: Shares of Zenvia jumped 10.9% to close at $2.13 on Friday.

Read This Next:

  • How To Earn $500 A Month From RPM International Stock Ahead Of Q2 Earnings
The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment