Top 5 Tech Stocks You'll Regret Missing This Quarter

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.

WISeKey International Holding AG WKEY

• Maxim Group analyst Matthew Galinko maintained WISeKey Intl with a Buy and lowered the price target from $15 to $6. The company’s stock has a 52-week low of $1.35 .
• RSI Value: 24.15
• WKEY Price Action: Shares of WISeKey International fell 6.7% to close at $1.53 on Monday.

Maxeon Solar Technologies, Ltd. MAXN

• Raymond James analyst Pavel Molchanov recently maintained Maxeon Solar Technologies with an Outperform and lowered the price target from $28 to $20. It has a 52-week low of $9.31.
• RSI Value: 24.95
• MAXN Price Action: Shares of Maxeon Solar Technologies fell 4.5% to close at $9.54 on Monday.

Cerence Inc. CRNC

• Cerence reported a third-quarter FY23 revenue decline of 30.7% year-on-year to $61.7 million, beating the consensus of $60.83 million. CEO Stefan Ortmanns commented, "Our focus on operational excellence and delivering on our commitments continued to drive strong results in Q3, with revenue for the quarter, as well as most of the key profitability metrics, at or above the high end of our guidance range." The company’s stock has a 52-week low of $12.82.
• RSI Value: 29.23
• CRNC Price Action: Shares of Cerence fell 3.1% to close at $17.91 on Monday.

CalAmp Corp. CAMP

• CalAmp reported a second-quarter revenue miss. “CalAmp generated positive Cash Flow from Operations of $7.1 million and achieved strong Adjusted EBITDA of $5.9 million in the quarter as a result of our continued commitment to cost efficiencies. Consolidated revenue in the quarter was softer than expected as shipments of Telematics Products to our TSP and Channel customers slowed,” said Interim CEO, Jason Cohenour. The company’s 52-week low is $0.24.
• RSI Value: 25.74
• CAMP Price Action: Shares of CalAmp fell 15.5% to close at $0.2470 on Monday.

Genasys Inc. GNSS

• Genasys priced its 5 million share common stock offering at $2 per share. The company has a 52-week low of $1.82.
• RSI Value: 27.50
• GNSS Price Action: Shares of Genasys fell 2.5% to close at $1.95 on Monday.

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