Top 3 Tech And Telecom Stocks That May Rocket Higher This Month

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.

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Golden Matrix Group Inc GMGI

On May 8, Golden Matrix Group posted downbeat quarterly sales. The company's stock fell around 28% over the past month and has a 52-week low of $1.50.
RSI Value: 28.4
GMGI Price Action: Shares of Golden Matrix Group fell 8.5% to close at $1.50 on Friday.
Edge Stock Ratings: 8.46 Momentum score with Value at 22.52.

Outbrain Inc OB

On May 9, Outbrain posted mixed quarterly results. “We are off to a strong start following the completion of the combination with Teads. In the first quarter, we delivered financial results above the mid-range of our guidance, while closing the acquisition, issuing five-year senior secured notes, and reaching many major milestones of integration and synergy realization. We are in the early days, but the feedback to our brandformance platform strategy from the hundreds of advertisers and media owners we have met has been highly encouraging,” said David Kostman, CEO of Teads. The company's stock fell around 21% over the past month and has a 52-week low of $2.72.
RSI Value: 29.2
OB Price Action: Shares of Outbrain fell 2.1% to close at $2.85 on Friday.
Benzinga Pro’s charting tool helped identify the trend in OB stock.

iOThree Ltd IOTR

On May 8, Deckhouse Communications and iO3 entered into partnership to bring advanced digital solutions to Turkish maritime sector. Kenny Koh, CEO of iO3 said, "The Turkish maritime sector is one of the most dynamic and globally engaged markets, driven by a strong vision for future growth. By working with Deckhouse Communications, we're bringing cutting-edge solutions to a market that's ready for digital transformation. Together, we're building a stronger, more connected maritime industry in Turkey." The company's stock fell around 49% over the past month and has a 52-week low of $0.31.
RSI Value: 20.4
IOTR Price Action: Shares of iOThree fell 4% to close at $0.45 on Friday.
Benzinga Pro’s signals feature notified of a potential breakout in IOTR shares.