Top 5 Tech And Telecom Stocks Which Could Rescue Your Portfolio This Quarter

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.

Cineverse Corp. CNVS

• Cineverse is expected to release financial results for the fiscal fourth quarter and year ended March 31, 2023, after the closing bell on June 29, 2023. The company’s stock has a 52-week low of $0.25 .
• RSI Value: 18.69
• CNVS Price Action: Shares of Cineverse fell 1.9% to close at $2.06 on Monday.

IDT Corporation IDT

• IDT said consolidated revenue decreased 9% to $299 million in the third quarter. SHMUEL JONAS, CEO said, “For the third quarter of our 2023 fiscal year, IDT generated year-over-year increases in gross profit, Adjusted EBITDA, and EPS highlighted by the continued expansion of our three high growth, high-margin businesses and by the relatively resilient cash-flows from our Traditional Communications segment, even as revenue from this segment continued to decline.” It has a 52-week low of $23.07.
• RSI Value: 27.12
• IDT Price Action: Shares of IDT fell 1.7% to close at $25.48 on Monday.

AMC Entertainment Holdings, Inc. AMC

• National CineMedia announced a new long-term advertising agreement with Regal Cinemas. The company’s stock has a 52-week low of $3.77.
• RSI Value: 29.70
• AMC Price Action: Shares of AMC Entertainment rose 0.5% to close at $4.03 on Monday.

The Marcus Corporation MCS

• Marcus posted a wider-than-expected quarterly loss. "Our reported first quarter fiscal 2023 results marked a significant improvement over the same period last year, with increased revenues from both divisions contributing to our performance," said Gregory S. Marcus, president and chief executive officer of The Marcus Corporation. The company’s 52-week low is $13.62.
• RSI Value: 29.90
• MCS Price Action: Shares of Marcus fell 0.3% to close at $14.51 on Monday.

EverQuote, Inc. EVER

• EverQuote announced cost reduction plan and appointment of Joseph Sanborn as CFO. “We remain committed to managing expenses throughout our operations. We expect this efficient cost structure will position EverQuote for growth and profitability when the auto insurance carriers return to their normal pattern of acquiring consumers through digital channels,” said Jayme Mendal, CEO of EverQuote. The company has a 52-week low of $5.23.
• RSI Value: 28.23
• EVER Price Action: Shares of EverQuote fell 0.1% to close at $6.49 on Monday.

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