Top 5 Tech And Telecom Stocks That May Explode 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.

PubMatic, Inc. PUBM

• PubMatic issued third-quarter revenue guidance below estimates. “Our deep customer relationships, alongside the strength and value of the PubMatic platform, drove revenue out-performance in the second quarter. As the market consolidates, we are in a strong position despite macro headwinds,” said Rajeev Goel, co-founder and CEO at PubMatic. The company’s stock has a 52-week low of $11.73 .
• RSI Value: 22.68
• PUBM Price Action: Shares of PubMatic gained 6.4% to close at $13.09 on Thursday.

Salem Media Group, Inc. SALM

• Salem Media Group reported worse-than-expected second-quarter EPS results. It has a 52-week low of $0.6600.
• RSI Value: 26.39
• SALM Price Action: Shares of Salem Media gained 1.7% to close at $0.7630 on Thursday.

ZoomInfo Technologies Inc. ZI

• ZoomInfo issued weak guidance. "In Q2 we delivered another quarter of revenue growth, increased profitability, and free cash flow generation," said Henry Schuck, ZoomInfo Founder and CEO. The company’s stock has a 52-week low of $18.00.
• RSI Value: 26.04
• ZI Price Action: Shares of ZoomInfo Technologies gained 0.4% to close at $18.40 on Thursday.

Roblox Corporation RBLX

• Roblox reported worse-than-expected second-quarter financial results. "We continue to drive high rates of organic growth in DAUs, Hours, and Bookings. We are growing among users of all ages and across all geographies. We remain focused on extending our product leadership to drive value for creators and brands, and even more innovative and immersive avatars and experiences for our users," said David Baszucki, founder and CEO of Roblox. The company’s 52-week low is $25.32.
• RSI Value: 28.98
• RBLX Price Action: Shares of Roblox gained 3.9% to close at $30.61 on Thursday.

Angi Inc. ANGI

• Angi reported worse-than-expected second-quarter financial results. The company has a 52-week low of $1.81.
• RSI Value: 29.09
• ANGI Price Action: Shares of Angi fell 0.4% to close at $2.58 on Thursday.

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