Top 3 Tech And Telecom Stocks That Could Blast Off In December

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.

NetEase, Inc. NTES

• On Nov. 16, NetEase, reported third-quarter FY23 revenue growth of 11.6% year-on-year to $3.74 billion, missing the consensus of $3.8 billion. Charles Zhaoxuan Yang resigned as CFO effective November 30, 2023, for personal reasons and to pursue other career interests. The company’s stock fell around 15% over the past five days and has a 52-week low of $71.34 .
• RSI Value: 14.46
• NTES Price Action: Shares of NetEase fell 16.1% to close at $87.64 on Friday.

Charge Enterprises, Inc. CRGE

• On Nov. 8, Charge Enterprises posted downbeat quarterly sales. "Our third quarter results were highlighted by our Infrastructure segment once again, as shown by the 19% growth in revenue and 59% growth in gross profit versus the prior year, which was driven by strong project delivery within our electrical services business and momentum within our EV charging business, including the Greenspeed acquisition," said Craig Denson, Interim Chief Executive Officer and Chief Operating Officer. The company’s stock fell around 42% over the past month. It has a 52-week low of $0.0950.
• RSI Value: 28.06
• CRGE Price Action: Shares of Charge Enterprises fell 9.1% to close at $0.1045 on Friday.

VS MEDIA Holdings Limited VSME

• On Sept. 27, VS Media revealed pricing of IPI at $5.00 per share. The company’s stock fell around 44% over the past month and has a 52-week low of $0.3490.
• RSI Value: 29.59
• VSME Price Action: Shares of VS MEDIA Holdings fell 7.4% to close at $0.42 on Friday.

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