Top 5 Tech Stocks Which Could Rescue Your Portfolio 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.

SEALSQ Corp LAES

• SEALSQ announced nine-month 2023 unaudited revenue of $22.1 million, a 20.4% increase from the 9-month 2022 period. Carlos Moreira, CEO of SEALSQ, said, “We are witnessing a robust and consistent customer demand for our semiconductors and Matter-related products, coupled with an upward trajectory in our market share.” The company’s stock has a 52-week low of $1.22 .
• RSI Value: 24.93
• LAES Price Action: Shares of SEALSQ gained 0.4% to close at $1.3950 on Monday.

Cerence Inc. CRNC

• Cerence filed patent infringement suit against Samsung. "Cerence has full confidence in the strength of its patent portfolio and plans to vigorously defend its intellectual property rights," said Jennifer Salinas, SVP & General Counsel, Cerence. "This lawsuit against Samsung is necessary to protect significant R&D and other investments, as well as our deep heritage and culture of innovation. We remain committed to having our intellectual property rights respected and enforced." It has a 52-week low of $12.82.
• RSI Value: 27.78
• CRNC Price Action: Shares of Cerence fell 1.8% to close at $16.49 on Monday.

NVE Corporation NVEC

• NVE reported a year-over-year decrease in second-quarter EPS and sales results. “We are pleased to report solid earnings for the quarter and six months despite a decrease in defense-related product sales and a semiconductor industry downturn,” said NVE President and Chief Executive Officer Daniel A. Baker, Ph.D. The company’s stock has a 52-week low of $59.37.
• RSI Value: 28.82
• NVEC Price Action: Shares of NVE fell 1.9% to close at $66.16 on Monday.

Verint Systems Inc. VRNT

• Verint Systems reported weaker-than-expected second-quarter results. Grant Highlander, Verint CFO, said, "We are pleased to report that the $11 million of New SaaS ACV deals that slipped from Q1 were all booked in Q2." The company’s 52-week low is $19.70.
• RSI Value: 26.51
• VRNT Price Action: Shares of Verint fell 2.1% to close at $19.75 on Monday.

NetScout Systems, Inc. NTCT

• The company sees revenue (GAAP and non-GAAP) of $195 million-$197 million (vs. consensus of $223.56 million). "Entering fiscal Q2, we were optimistic that our recently released solutions and our solid pipeline of opportunities would support growth through the balance of the year. However, we recently began to experience a slowing in demand flow-through as customers implemented higher spending scrutiny and delayed project funding," said Anil Singhal, President and Chief Executive Officer. The company has a 52-week low of $21.15.
• RSI Value: 26.90
• NTCT Price Action: Shares of NetScout fell 2.1% to close at $21.91 on Monday.

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