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.
Docusign Inc (NASDAQ: DOCU )
On Feb. 18, BTIG analyst Allan Verkhovski maintained Docusign with a Buy and lowered the price target from $88 to $70. The company's stock fell around 23% over the past month and has a 52-week low of $41.53. RSI Value: 29.9 DOCU Price Action: Shares of Docusign gained 0.8% to close at $44.48 on Friday. Edge Stock Ratings: 3.72 Momentum score with Value at 57.92.Sequans Communications SA ADR (NYSE: SQNS )
Elastic NV (NYSE: ESTC )
Don't miss out on the full BZ Edge Rankings— compare all the key stocks now .
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