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.

Commercial Metals Company (NYSE:CMC)

• Commercial Metals will report its first quarter earnings on Monday, Jan. 6, 2025. The company's stock fell around 2% over the past five days and has a 52-week low of $45.55.
• RSI Value: 28.93
• CMC Price Action: Shares of Commercial Metals fell 0.8% to close at $61.75 on Tuesday.
• Benzinga Pro's real-time newsfeed alerted to latest CMC news.

Madison Square Garden Entertainment Corp (NASDAQ:MSGE)

• On Dec. 3, Madison Square Garden Entertainment repurchased $25 million of MSGE Class A common stock. The company's stock fell around 8% over the past five days and has a 52-week low of $30.10.
• RSI Value: 29.89
• MSGE Price Action: Shares of Madison Square Garden fell 3.6% to close at $35.59 on Tuesday.
• Benzinga Pro's charting tool helped identify the trend in MSGE stock.

Omnicom Group Inc (NYSE:OMC)

• On Dec. 9, Omnicom Group agreed to acquire Interpublic Group of Companies, Inc (NYSE:IPG) in a stock-for-stock transaction. Interpublic shareholders will receive 0.344 Omnicom shares for each share of Interpublic common stock. The company's stock fell around 11% over the past five days and has a 52-week low of $82.26.
• RSI Value: 28.93
• OMC Price Action: Shares of Omnicom fell 0.4% to close at $92.46 on Monday.
• Benzinga Pro's signals feature notified of a potential breakout in OMC shares.

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