Overvalued stocks in the information technology sector provide an opportunity to buy undervalued companies.
RSI is a momentum indicator that compares the strength of a stock on days when prices fall and days when prices rise. Compared to a stock’s price action, it can give traders a better idea of how a stock will perform in the short term. If the RSI is below 30, the asset is generally considered oversold.
Here is a recent list of the most traded major players in this sector with an RSI of 30 and below.
Agile Thinking, Inc. (NASDAQ: AGL )
- AgileThought reports fourth quarter earnings. “2022 is a transformative year for Agilent. We have built a leading delivery infrastructure and a well-organized team of people. Additionally, we are embarking on a significant sales investment drive through mid-2022, which will deliver industry-leading revenue growth and profitability. The company has shares 52-week low of $2.11 .
- RSI value: 22.93
- AGIL PRICE ACTION: Shares of AgileThought fell 3.9% on Friday to close at $2.1150.
ADTRAN Holdings, Inc. (NASDAQ: ADTN )
- Adtran said it expects first-quarter revenue to be $322 million to $326 million, compared with a forecast of $355 million to $375 million. “Increasing customer concerns about inventory levels impacted our subscription solutions category in the first quarter,” said Tom Stanton, the company’s CEO. Shares of the company have a 52-week low of $10.24. .
- RSI value: 23.31
- ADTN Price Action: ADTRAN shares fell 3.7% to close at $10.33 on Friday.
Septon, Inc. (NASDAQ: CPTN )
- Septon posted a lower-than-expected quarterly loss. “We have completed our first year as a public company with great success,” said Jun Pei, Septon’s founder and CEO. Company shares Hold the 52-week low of $0.3750.
- RSI value: 27.43
- CPTN Price Action: Shares of Septon rose 3.2 percent to close at $0.40 on Friday.
Airbus Network Holdings Inc. (NYSE: MIMO)
- Airbus Networks reported Lower than expected fourth quarter loss . The company’s 52-week low is $0.5110.
- RSI value: 18.02
- MIMO Price Action: Shares of Airspan Networks rose 0.2% to close at $0.5411 on Friday.
Cloth (NYSE: FN )
- Fabrinet reported good results for the second quarter. The organization It has a 52-week low of $74.57. .
- RSI value: 29.79
- FN price action: Fabrinet shares fell 1% to close at $98.25 on Friday.
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