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.
iClick Interactive Asia Group Limited (NASDAQ:ICLK)
- On April 26, iClick Interactive Asia announced the termination of its merger agreement with TSH Investment Holding Limited and TSH Merger Sub Limited. The company's stock fell around 69% over the past month and has a 52-week low of $1.03 .
- RSI Value: 16.85
- ICLK Price Action: Shares of iClick Interactive Asia Group fell 1.2% to close at $1.22 on Monday.
iHeartMedia, Inc. (NASDAQ:IHRT)
- On May 9, iHeartMedia posted downbeat quarterly sales. "We're pleased to report our first quarter of year-over-year Adjusted EBITDA growth in five quarters, driven by the substantial sequential year-over-year improvement in the performance of all our segments: the Multiplatform Group, the Digital Audio Group, and the Audio and Media Services Group – with the Digital Audio Group hitting its best Q1 EBITDA margin ever," said Bob Pittman, Chairman and CEO of iHeartMedia, Inc. The company's stock fell around 47% over the past five days. It has a 52-week low of $1.1739.
- RSI Value: 26.65
- IHRT Price Action: Shares of iHeartMedia fell 4.6% to close at $1.24 on Monday.
Direct Digital Holdings, Inc. (NASDAQ:DRCT)
- On April 23, Direct Digital announced the receipt of Nasdaq notification of non-compliance. The company's stock fell around 53% over the prior month and has a 52-week low of $1.96.
- RSI Value: 23.31
- DRCT Price Action: Shares of Direct Digital fell 1.8% to close at $3.90 on Monday.
Intelligent Group Limited (NASDAQ:INTJ)
- Intelligent Group said, effective May 1, board appointed Law Wing Tak Jack as CFO. The company's shares lost around 41% over the past month The company's 52-week low is $0.92.
- RSI Value: 25.22
- INTJ Price Action: Shares of Intelligent Group gained 1.3% to close at $0.9799 on Monday.
Tripadvisor, Inc. (NASDAQ:TRIP)
- On May 7, TripAdvisor posted upbeat quarterly earnings. "We are pleased with our first quarter results, which provide a solid start to the fiscal year, and were driven by the continued diversification of our portfolio into higher growth experiences offerings," said Chief Executive Officer Matt Goldberg. The company's shares fell around 27% over the past five days. The company has a 52-week low of $14.15.
- RSI Value: 20.60
- TRIP Price Action: Shares of Tripadvisor gained 2.5% to close at $18.64 on Thursday.
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