Top 5 Tech And Telecom Stocks That May Rocket Higher 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.

Angi Inc. ANGI

• Angi will post its first quarter results after the close of market trading on Tuesday, May 7, 2024. The company’s stock fell around 22% over the past month and has a 52-week low of $1.55 .
• RSI Value: 28.70
• ANGI Price Action: Shares of Angi fell 2.9% to close at $2.01 on Tuesday.

Direct Digital Holdings, Inc. DRCT

• On March 26, Direct Digital reported worse-than-expected fourth-quarter financial results. “2023 was another transformational year for Direct Digital Holdings, achieving remarkable year-over-year revenue growth of 76% as well as dramatic operational expansion, and impressive results for our shareholders,” commented Mark D. Walker, CEO of Direct Digital. The company’s stock fell around 73% over the past month. It has a 52-week low of $1.96.
• RSI Value: 29.74
• DRCT Price Action: Shares of Direct Digital fell 6.9% to close at $7.73 on Tuesday.

AT&T Inc. T

• On March 31, AT&T said personal data from 73 million current and former customers account holders was leaked. The company’s stock fell around 4% over the past five days and has a 52-week low of $13.43.
• RSI Value: 28.46
• T Price Action: Shares of AT&T fell 0.9% to close at $16.09 on Tuesday.

Electronic Arts Inc. EA

• Electronic Arts is expected to release its financial results for the fiscal quarter and year ended March 31, 2024 after the close of market on Tuesday, May 7, 2024. The company’s shares lost around 4% over the past month. The company’s 52-week low is $117.47.
• RSI Value: 28.21
• EA Price Action: Shares of Electronic Arts fell 0.4% to close at $126.55 on Tuesday.

GD Culture Group Limited GDC

• On March 22, GD Culture Group announced a registered direct offering. The company’s shares fell around 53% over the past month. The company has a 52-week low of $0.5850.
• RSI Value: 19.60
• GDC Price Action: Shares of GD Culture Group gained 7.7% to close at $0.6699 on Tuesday.

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