Top 5 Tech And Telecom Stocks Which Could Rescue Your Portfolio 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.

AMC Entertainment Holdings, Inc. AMC

• AMC Entertainment Holdings filed a certificate of elimination to eliminate the matters related to the conversion of its outstanding AMC Preferred Equity Units into shares of the company's Class A common stock, from its certificate of incorporation. The company’s stock has a 52-week low of $11.05 .
• RSI Value: 22.66
• AMC Price Action: Shares of AMC Entertainment fell 10.9% to close at $11.07 on Monday.

Tremor International Ltd TRMR

• The company generated second-quarter adjusted EBITDA of $21.0 million, reflecting a 137% improvement from $8.9 million in the first quarter of 2023. “We were incredibly pleased to achieve our goal of efficiently completing the integration of Amobee, which featured a tech-rich platform and much larger employee base than Tremor at the acquisition’s close, and to have met our total annualized operating cost synergy target,” said Ofer Druker, Chief Executive Officer of Tremor International. It has a 52-week low of $3.85.
• RSI Value: 19.82
• TRMR Price Action: Shares of Tremor International fell 0.8% to close at $3.95 on Monday.

Sea Limited SE

• KGI Securities analyst Andrew Cheng recently downgraded Sea from Outperform to Neutral and announced a $42 price target.. The company’s stock has a 52-week low of $34.87.
• RSI Value: 23.85
• SE Price Action: Shares of Sea Limited gained 2% to close at $36.90 on Monday.

Gogo Inc. GOGO

• The company said second-quarter total revenue of $103.2 million rose 6% versus the second quarter of 2022. "We are in a two-year investment cycle to take advantage of new technologies like 5G, LEO satellite and LTE to deliver order-of-magnitude improvements in network speed and coverage for our customers, grow our addressable market by 50%, and strengthen our competitive position," said Oakleigh Thorne, Chairman and CEO. The company’s 52-week low is $11.13.
• RSI Value: 16.69
• GOGO Price Action: Shares of Gogo fell 0.2% to close at $11.14 on Monday.

VEON Ltd. VEON

• VEON reported a decline in second-quarter EPS. The company has a 52-week low of $7.50.
• RSI Value: 29.05
• VEON Price Action: Shares of VEON rose 0.5% to close at $16.17 on Monday.

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