The most oversold stocks in the communication services 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.
AMC Entertainment Holdings, Inc. (NYSE:AMC)
- On March 28, AMC Entertainment entered an equity distribution agreement to sell shares from time to time with an aggregate offering price of $250,000,000 through an 'at-the-market' program. The company’s stock fell around 32% over the past month and has a 52-week low of $2.94 .
- RSI Value: 26.18
- AMC Price Action: Shares of AMC Entertainment fell 2% to close at $2.95 on Monday.
Haoxi Health Technology Limited (NASDAQ:HAO)
- On Jan. 30, Haoxi Health Technology announced closing of $9,600,000 initial public offering. The company’s stock fell around 38% over the past month. It has a 52-week low of $4.25.
- RSI Value: 29.15
- HAO Price Action: Shares of Haoxi Health Technology fell 7% to close at $4.36 on Monday.
Sirius XM Holdings Inc. (NASDAQ:SIRI)
- SiriusXM said it will release its first quarter 2024 operating and financial results on Tuesday, April 30. The company’s stock fell around 12% over the past five days and has a 52-week low of $3.32.
- RSI Value: 12.90
- SIRI Price Action: Shares of Sirius XM fell 3.2% to close at $3.38 on Monday.
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