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.
Rapid7, Inc. (NASDAQ:RPD)
- On May 7, Rapid7 posted upbeat quarterly earnings. We continued to see solid traction with our consolidated threat detection and response solutions during the first quarter”, said Corey Thomas, Chairman and CEO of Rapid7.The company's stock fell around 16% over the past five days and has a 52-week low of $35.22.
- RSI Value: 22.98
- RPD Price Action: Shares ...