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.
SentinelOne Inc (NYSE:S)
- On May 30, SentinelOne reported quarterly losses of 23 cents per share, which missed the analyst consensus estimate of losses of 5 cents. Quarterly sales came in at $186.4 million which beat the analyst consensus estimate of $181.09 million. "We delivered an extraordinary 40% revenue growth and our first ever quarter of positive free cash flow, a significant milestone in our growth journey," said Tomer Weingarten, CEO of SentinelOne. The company's stock fell around 20% over ...
