Top 5 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.

Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.

Vodafone Group Public Limited Company VOD

• Vodafone Portugal and RingCentral launched new communications and collaboration solution to power hybrid work for employees. Henrique Fonseca, Vodafone Portugal's Business Unit director, said, "To the robust, effective, and simple Vodafone One Net solution that we have been offering to our customers for more than 10 years, we are pleased to now partner with RingCentral to leverage their collaboration capabilities. Portuguese companies will be among the first in Europe to experience the advantages of this differentiating platform, which is a real step forward in their relationship with customers and employees. The solution will accelerate their productivity with maximum agility and reliability." The company’s stock has a 52-week low of $9.35 .
• RSI Value: 29.22
• VOD Price Action: Shares of Vodafone rose 0.8% to close at $9.57 on Friday.

AMC Networks Inc. AMCX

• AMC Networks reported better-than-expected first-quarter financial results. Chief Executive Officer Kristin Dolan said, "AMC Networks has always been known for great content that breaks through in popular culture, receives critical acclaim and engages fans. In an environment of shifting consumption, we are committed to making our content available across the entire distribution ecosystem. While we reevaluate the pathways to content monetization, we are strategically reducing costs and streamlining our organization. These efforts contributed to a first quarter with strong margins and increased streaming revenue as we prioritized higher-value subscribers for our streaming portfolio." The company’s stock has a 52-week low of $11.16.
• RSI Value: 28.53
• AMCX Price Action: Shares of AMC Networks rose 2% to close at $11.64 on Friday.

Frontier Communications Parent, Inc. FYBR

• Frontier Communications increased its FY23 cash capital expenditures guidance and reported mixed first-quarter financial results. "We delivered another strong quarter and reached a critical milestone in our transformation. Thanks to our team’s consistent operational performance, we achieved EBITDA growth for the first time in five years," said Nick Jeffery, President and Chief Executive Officer of Frontier. The company’s stock has a 52-week low of $14.49.
• RSI Value: 26.51
• FYBR Price Action: Shares of Frontier Communications rose 2.5% to close at $15.17 on Friday.

iQIYI, Inc. IQ

• iQIYI posted upbeat quarterly results. “We kicked off the year with an exceptional first quarter. iQIYI originals once again demonstrated its power, driving our financial performance and market share to new highs, and expanding our subscriber base by over 17 million net additions,” commented Mr. Yu Gong, Founder, Director, and Chief Executive Officer of iQIYI. The company’s 52-week low is $1.65.
• RSI Value: 29.56
• IQ Price Action: Shares of iQIYI rose 6.5% to close at $4.45 on Friday.

Sea Limited SE

• Sea reported worse-than-expected first-quarter financial results. "The first quarter of 2023 was another strong quarter for us," said Forrest Li, Sea’s Chairman and Group Chief Executive Officer. The company has a 52-week low of $40.67.
• RSI Value: 29.99
• SE Price Action: Shares of Sea Limited rose 2.4% to close at $59.39 on Thursday.

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