WIMI - Top 5 Tech And Telecom Stocks That May Fall Off A Cliff This Quarter | Benzinga
As of Feb. 9, 2024, five stocks in the communication services 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.
Rumble Inc. (NASDAQ: RUM)
- On Jan. 22, Rumble announced a partnership with Barstool Sports. "Rumble is quickly emerging as a leading platform for the under-30 demographic, and we’re excited for Barstool Sports to be a significant part of our rapid growth,” said Chris Pavlovski, chairman and CEO of Rumble. The company’s stock gained around 93% over the past month and has a