Top 3 Tech Stocks That May Rocket Higher In Q4

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, according to Benzinga Pro.

Here's the latest list of major oversold players in this sector, having an RSI near or below 30.

Freshworks Inc (NASDAQ:FRSH)

On Oct. 7, Freshworks named Enrique Ortegon as senior vice president and general manager of Americas Field Sales. “Enrique is a transformational leader who brings the perfect combination of strategic vision, operational excellence, and deep market expertise to accelerate our growth across the Americas,” said Ian Tickle, Chief of Global Field Operations at Freshworks. “With a record of scaling from SMB to enterprise and deep operating experience across North and South America, he can accelerate our regional growth and amplify the value we deliver to thousands of customers.” The company's stock fell around 15% over the past month and has a 52-week low of $10.81.
RSI Value: 29.7
FRSH Price Action: Shares of Freshworks fell 1.2% to close at $11.18 on Tuesday.
Edge Stock Ratings: 20.87 Momentum score.

PAR Technology Corp (NYSE:PAR)

On Aug. 19, Benchmark analyst Mark Palmer maintained PAR Technology with a Buy and lowered the price target from $92 to $77. The company's stock fell around 21% over the past month and has a 52-week low of $37.29.
RSI Value: 23.4
PAR Price Action: Shares of PAR Technology rose 0.2% to close at $37.96 on Tuesday.
Benzinga Pro’s charting tool helped identify the trend in PAR stock.

Rapid7 Inc (NASDAQ:RPD)

On Sept. 2, Morgan Stanley analyst Erin Wilson maintained Rapid7 with an Equal-Weight rating and lowered the price target from $28 to $22.. The company's stock fell around 14% over the past month and has a 52-week low of $17.76.
RSI Value: 26.3
RPD Price Action: Shares of Rapid7 fell 4.5% to close at $17.77 on Tuesday.
Benzinga Pro’s signals feature notified of a potential breakout in RPD shares.