Top 5 Tech Stocks That Could Sink Your Portfolio In April

The most overbought stocks in the information technology sector presents an opportunity to go short on these overvalued 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 overbought when the RSI is above 70.

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

Climb Global Solutions, Inc. CLMB

• Climb Global Solutions reported a rise in Q4 earnings. “2022 was another exceptional year for Climb, highlighted by record results across all key financial metrics,” said CEO Dale Foster. The company’s stock has a 52-week high of $55.70 .
• RSI Value: 71.24
• CLMB Price Action: Shares of Climb Global Solutions fell 1.8% to close at $52.34 on Monday.

Salesforce, Inc. CRM

• Salesforce issued a joint statement regarding its 2023 annual meeting and related director elections. Activist investor Elliott Investment Management decided not to proceed with director nominations, and Salesforce and Elliott will continue the productive working relationship. The company’s stock has a 52-week high of $218.27.
• RSI Value: 70.13
• CRM Price Action: Shares of Salesforce fell 1.7% to close at $196.49 on Monday.

C3.ai, Inc. AI

• C3.ai reported better-than-expected Q3 results and issued strong guidance. "As we enter Q4 FY 23, we are seeing tailwinds from improved business optimism and increased interest in applying C3 AI solutions to address an increasing range of applications across a broad range of industries," said Thomas M. Siebel, C3 AI CEO. The company has a 52-week high of $34.68.
• RSI Value: 74.60
• AI Price Action: Shares of C3.ai gained 0.9% to close at $33.87 on Monday.

Insight Enterprises, Inc. NSIT

• Insight Enterprises reported better-than-expected Q4 adjusted EPS. "It is my pleasure to report that we ended 2022 with an outstanding fourth quarter that topped off record setting financial results for 2022," stated Joyce Mullen, President and Chief Executive Officer. The company’s 52-week high is $143.58.
• RSI Value: 71.54
• NSIT Price Action: Shares of Insight Enterprises rose 0.4% to close at $143.57 on Monday.

Intel Corporation INTC

• Bernstein upgraded Intel from Underperform to Market Perform and raised the price target from $20 to $30. The company has a 52-week high of $48.98.
• RSI Value: 73.91
• INTC Price Action: Shares of Intel rose 0.7% to settle at $32.89 on Monday.

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