Top 4 Tech Stocks That May Implode This Month

As of Dec. 22, 2023, four stocks in the information technology sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

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 overbought when the RSI is above 70, according to Benzinga Pro.

Here’s the latest list of major overbought players in this sector.

Marathon Digital Holdings, Inc. MARA

• On Dec. 19, Marathon Digital entered into a definitive agreement Tuesday to acquire two Bitcoin mining sites for $178.6 million. "For the past year, Marathon has been vertically integrating as we transition into a more sophisticated and mature organization with a diversified portfolio of Bitcoin mining technologies and assets, and the acquisition of these sites is the next step in that evolution," said Fred Thiel, chairman and CEO of Marathon Digital. The company’s stock jumped around 127% over the past month and has a 52-week high of $25.10 .
• RSI Value: 87.07
• MARA Price Action: Shares of Marathon Digital gained 12.1% to close at $24.78 on Thursday.

TeraWulf Inc. WULF

• On Dec. 4, TeraWulf announced November 2023 production and operations updates. The company’s stock gained around 89% over the past month and has a 52-week high of $4.04.
• RSI Value: 73.08
• WULF Price Action: Shares of TeraWulf gained 6.7% to close at $2.08 on Thursday.

DoubleVerify Holdings, Inc. DV

• On Nov. 13, DoubleVerify announced pricing of secondary offering of 12.5 million shares of common stock at a price of $30.45 per share by selling stockholders. The company’s stock jumped around 14% over the past month and has a 52-week high of $42.51.
• RSI Value: 77.59
• DV Price Action: Shares of DoubleVerify gained 2.8% to close at $36.52 on Thursday.

Aurora Innovation, Inc. AUR

• On Nov. 1, Aurora Innovation posted a third-quarter loss of 13 cents per share. "The third quarter was a period of intense focus on execution and capital discipline at Aurora," said Chris Urmson, Co-Founder and Chief Executive Officer at Aurora. "Through these efforts, we are making strong progress toward closing our Safety Case, readying our hardware kit for commercial launch, and further improving the Aurora Driver's performance in commercial settings." The company’s stock gained around 98% over the past month and has a 52-week high is $4.5250.
• RSI Value: 83.17
• AUR Price Action: Shares of Aurora Innovation gained 3.6% to close at $4.27 on Thursday.

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