Top 2 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.

Cars.com Inc CARS

• On Feb. 27, Cars.Com reported worse-than-expected fourth-quarter financial results and issued FY25 revenue guidance below estimates. “Our fourth quarter was highlighted by strong OEM and National revenue, which was up 15% year-over-year, and robust Adjusted EBITDA margin of nearly 31%, capping a year of solid growth and consistent profitability improvement. As the automotive industry looks for efficiency, the benefits of leveraging our platform of connected solutions are leading to measurable benefits and meaningful sales impact for our customers,” said Alex Vetter, Chief Executive Officer of Cars Commerce. The company's stock fell around 24% over the past month and has a 52-week low of $11.78.
• RSI Value: 28                             
• CARS Price Action: Shares of Cars.com gained 9.7% to close at $13.20 on Friday.
• Benzinga Pro's real-time newsfeed alerted to latest CARS news.

Yelp Inc YELP     

• On Feb. 13, Yelp posted upbeat quarterly results. “Yelp’s 2024 results reflect the strong execution on our services roadmap,” said Jeremy Stoppelman, Yelp’s co-founder and chief executive officer. The company's stock fell around 13% over the past month and has a 52-week low of $32.56.
• RSI Value: 29.7
• YELP Price Action: Shares of Yelp gained 0.7% to close at $34.31 on Friday.
• Benzinga Pro’s charting tool helped identify the trend in YELP stock.

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