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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.
OSI Systems Inc (NASDAQ:OSIS)
- On May 4, OSI Systems posted upbeat quarterly earnings. Ajay Mehra, OSI Systems’ President and Chief Executive Officer, said, “Our third quarter results demonstrate the strength and durability of our diversified portfolio highlighted by record Q3 non‑GAAP earnings per share and strong bookings, reflecting sound execution in our Security and Optoelectronics and Manufacturing divisions. Our substantial backlog and a robust pipeline position us well as we capitalize on market opportunities and advance key strategic initiatives.” …
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