Top 4 Tech Stocks You May Want To Dump In April

As of April 16, 2024, four stocks in the information technology sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

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, according to Benzinga Pro.

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

Red Cat Holdings, Inc. RCAT

• On March 18, Red Cat Holdings posted better-than-expected third-quarter sales. The company’s stock gained around 22% over the past month and has a 52-week high of $1.47 .
• RSI Value: 73.37
• RCAT Price Action: Shares of Red Cat rose 8% to close at $0.95 on Monday.

Edgio, Inc. EGIO

• On March 15, Edgio announced preliminary unaudited fourth quarter 2023 financial results. The company’s stock gained around 192% over the past month and has a 52-week high of $44.00.
• RSI Value: 83.30
• EGIO Price Action: Shares of Edgio gained 15.7% to close at $20.64 on Monday.

Vislink Technologies, Inc. VISL

• On April 1, Vislink Technologies posted a narrower quarterly loss. "2023 marked a pivotal year for Vislink, as we laid the groundwork for accelerated revenue growth and cash flow neutrality in 2024," said Vislink CEO Mickey Miller. The company’s stock gained around 29% over the past five days and has a 52-week high of $8.26.
• RSI Value: 71.48
• VISL Price Action: Shares of Vislink Technologies gained 22.3% to close at $4.1832 on Monday.

Cheetah Mobile Inc. CMCM

• On April 16, Cheetah Mobile posted a decline in FY sales. The company’s stock jumped around 95% over the past month and has a 52-week high is $5.20.
• RSI Value: 86.54
• CMCM Price Action: Shares of Cheetah Mobile gained 5.2% to close at $4.85 on Monday.

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