Top 5 Tech Stocks That May Rocket Higher In Q2

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.

Silicon Laboratories Inc. SLAB

Silicon Labs reported worse-than-expected Q1 sales results and issued Q2 sales guidance below analyst estimates. The company’s stock has a 52-week low of $109.44 .
RSI Value: 29.50
SLAB Price Action: Shares of Silicon Laboratories fell 4.1% to close at $136.04 on Thursday.

WeTrade Group, Inc. WETG

WeTrade Group announced it received a notice of noncompliance from Nasdaq because it failed to timely file its 2022 annual report on form 10-K with the SEC. The company’s stock has a 52-week low of $0.0740.
RSI Value: 14.59
WETG Price Action: Shares of WeTrade Group fell 3.1% to close at $0.0780 on Thursday.

ADTRAN Holdings, Inc. ADTN

ADTRAN announced preliminary results for Q1 2023. The company expects preliminary revenue to be between $322 million and $326 million as compared to its guidance of $355 million to $375 million. The company’s stock has a 52-week low of $8.88.
RSI Value: 18.33
ADTN Price Action: Shares of ADTRAN Holdings fell 1.3% to close at $8.93 on Thursday.

Intevac, Inc. IVAC

Intevac posted better-than-expected Q4 results. The company is set to release financial results for its fiscal first quarter 2023 on May, 2023. The company’s 52-week low is $4.29.
RSI Value: 28.75
IVAC Price Action: Shares of Intevac fell 0.6% to close at $6.37 on Thursday.

TTM Technologies, Inc. TTMI

TTM Technologies reported worse-than-expected Q4 sales results. The company will host a conference call on Wednesday, May 3, to discuss its first quarter fiscal year 2023 performance. The company has a 52-week low of $11.40.
RSI Value: 28.66
TTMI Price Action: Shares of TTM Technologies dropped 0.2% to close at $11.60 on Thursday.