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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.
Zscaler Inc (NASDAQ:ZS)
- On April 9, BTIG analyst Gray Powell downgraded Zscaler from Buy to Neutral. The company’s stock fell around 22% over the past month and has a 52-week low of $120.76.
- RSI Value: 29.9
- ZS Price Action: Shares of Zscaler fell 11.4% to close at $122.21 on Thursday.
- Edge Stock Ratings: 2.00 Momentum score.
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