Perceptive investors know that diving into the communication services sector when stocks are oversold can yield significant rewards.
One method to assess stocks is through the Relative Strength Index (RSI), signaling when a stock might be oversold based on its price action. An RSI below 30 indicates potential undervaluation, as per industry standards.
Here’s a glimpse into three notable oversold entities in the tech and telecom arena with RSIs near or below 30.
SPAR Group Inc SGRP
- SPAR Group recently announced quarterly earnings that met expectations, showcasing growth in the Americas. Despite this, the stock encountered a rough patch, plummeting about 20% last month and hitting a 52-week low of $0.70.
- RSI Value: 29.68
- SGRP Price Action: Shares concluded at $1.63 after a 4.7% dip on Wednesday.
Tencent Music Entertainment Group – ADR TME
- Tencent Music Entertainment’s recent revenue dip disappointed as it fell short of analyst forecasts. The stock endured a 30% stumble in the past month, hitting a 52-week low of $5.96.
- RSI Value: 28.08
- TME Price Action: Shares closed at $10.44, edging up by 0.6% on Wednesday.
Motorsport Games Inc MSGM
- Despite surpassing second-quarter projections, Motorsport Games saw its shares plummet by 51% in the past month, reaching a 52-week low of $1.01.
- RSI Value: 28.84
- MSGM Price Action: Shares wrapped up at $1.09, rising by 0.9% on Wednesday.
Missed the latest on these stocks? Dive back in and scrutinize the market trends for potential opportunities. With insights into oversold stocks, there’s much to explore for discerning investors.