Top 5 Tech Stocks That Are Set To Fly This Month

The most oversold stocks in the information technology 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.

Marathon Digital Holdings, Inc. MARA

• Marathon Digital reported second-quarter revenue of $81.8 million, which missed the consensus estimate of $92.65 million. "After a strong start to the year, we accelerated our progress in the second quarter by significantly growing our hash rate and improving our efficiency," said Fred Thiel, chairman and CEO of Marathon Digital. The company’s stock has a 52-week low of $3.11 .
• RSI Value: 29.46
• MARA Price Action: Shares of Marathon Digital fell 0.9% to close at $10.95 on Tuesday.

Riot Platforms, Inc. RIOT

• Riot Platforms posted downbeat quarterly sales. “I am excited to announce second quarter 2023 results for Riot, as this quarter showcased ongoing execution of our long-term strategy and included a number of landmark announcements solidifying our future growth path,” said Jason Les, CEO of Riot. It has a 52-week low of $3.25.
• RSI Value: 26.41
• RIOT Price Action: Shares of Riot Platforms fell 1.7% to close at $10.55 on Tuesday.

indie Semiconductor, Inc. INDI

• Indie Semiconductor posted better-than-expected second-quarter sales. "We once again delivered revenue and gross margin ahead of expectations in the second quarter of 2023, putting us on pace to more than double indie’s business base for a third year in a row," said Donald McClymont, indie’s co-founder and chief executive officer. The company’s stock has a 52-week low of $5.66.
• RSI Value: 23.22
• INDI Price Action: Shares of indie Semiconductor fell 2.1% to close at $6.54 on Tuesday.

Maxeon Solar Technologies, Ltd. MAXN

• Maxeon Solar reported mixed second-quarter financial results and issued FY23 revenue guidance below estimates. Maxeon's Chief Executive Officer Bill Mulligan noted, "Maxeon delivered another solid quarter, with year-on-year revenue growth of 46 percent and adjusted EBITDA above our guidance mid-point." The company’s 52-week low is $13.26.
• RSI Value: 23.11
• MAXN Price Action: Shares of Maxeon Solar Technologies fell 3% to close at $13.40 on Tuesday.

One Stop Systems, Inc. OSS

• One Stop Systems reported worse-than-expected seconc-quarter revenue results and issued third-quarter revenue guidance below estimates. The company has a 52-week low of $1.65.
• RSI Value: 27.96
• OSS Price Action: Shares of One Stop Systems fell 3.5% to close at $1.66 on Tuesday.

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