Top 4 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, according to Benzinga Pro.

Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.

Entravision Communications Corporation EVC

• On March 5, Entravision Comms posted upbeat quarterly sales. "We are conducting an extensive review of our strategy and cost structure to reinforce our operating foundation and ensure we are best positioned to capitalize on Entravision’s global, market leading advertising, media and technology solutions. Our balance sheet is solid with a strong cash position to support the business as we navigate these changes," said Michael Christenson, Chief Executive Officer. The company’s stock fell around 21% over the past five days and has a 52-week low of $1.43 .
• RSI Value: 14.10
• EVC Price Action: Shares of Entravision Communications fell 2% to close at $1.47 on Tuesday.

Manchester United plc MANU

• On March 12, Manchester United posted better-than-expected second-quarter financial results. Cliff Baty, Chief Financial Officer, said, "We delivered strong revenues during the first half of the fiscal year and have reiterated our guidance for record revenues for the full fiscal year. This is an exciting time at Manchester United following the completion of Sir Jim Ratcliffe’s investment, and we are all focused on working together with our new co-owners to drive the club forward and deliver success on the pitch." The company’s stock fell around 33% over the past month. It has a 52-week low of $14.00.
• RSI Value: 27.90
• MANU Price Action: Shares of Manchester United gained 1.1% to close at $14.36 on Tuesday.

Eventbrite, Inc. EB

• On Feb. 27, Eventbrite reported mixed fourth-quarter financial results. The company’s stock fell around 40% over the past month and has a 52-week low of $5.09.
• RSI Value: 26.27
• EB Price Action: Shares of Eventbrite fell 3.4% to close at $5.12 on Tuesday.

Sirius XM Holdings Inc. SIRI

• On Feb. 1, Sirius XM Holdings reported a flat fourth-quarter FY23 revenue growth year-on-year to $2.287 billion, marginally missing the consensus of $2.290 billion. s “In 2023, SiriusXM laid the groundwork for future growth through the successful launch of our next-generation platform and the new SiriusXM app,” said Jennifer Witz, Chief Executive Officer. The company’s shares lost around 14% over the past month. The company’s 52-week low is $3.32.
• RSI Value: 19.76
• SIRI Price Action: Shares of Sirius XM fell 1.4% to close at $4.11 on Tuesday.

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