Top 5 Tech Stocks That May Crash In Q2

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.

Jabil Inc. JBL

• Jabil reported better-than-expected third-quarter financial results and issued fourth-quarter guidance. "Our business is in good shape and the Jabil team has executed well this year, in what has been a dynamic operating environment," said CEO Kenny Wilson. The company’s stock has a 52-week high of $107.30. .
• RSI Value: 70.80
• JBL Price Action: Shares of Jabil fell 0.8% to close at $ 103.04 on Friday.

Dropbox, Inc. DBX

• Dropbox introduced Dropbox Dash, AI-powered universal search, and Dropbox AI for files. The company’s stock has a 52-week high of $26.59.
• RSI Value: 73.97
• DBX Price Action: Shares of Dropbox fell 0.4% to close at $26.33 on Friday.

SPS Commerce, Inc. SPSC

• Needham analyst Scott Berg reiterated a Buy rating on SPS Commerce, raising the price target to $205 from $160. The company has a 52-week high of $185.99.
• RSI Value: 70.47
• SPSC Price Action: Shares of SPS Commerce fell 0.5% to close at $182.79 on Friday.

Bitdeer Technologies Group BTDR

• Bitdeer Technologies Group announced a $1 million share repurchase program. The company’s 52-week high is $14.75.
• RSI Value: 80.46
• BTDR Price Action: Shares of Bitdeer Technologies fell 0.4% to close at $11.37 on Friday.

MongoDB, Inc. MDB

• MongoDB announced several new product launches. "Our long-term vision is to create a developer data platform that removes as much builder friction as possible and makes it easier for developers to do what they do best—build," said Andrew Davidson, Senior Vice President of Product at MongoDB. The company has a 52-week high of $398.89.
• RSI Value: 71.30
• MDB Price Action: Shares of MongoDB rose 0.4% to settle at $389.99 on Friday.

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