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Oversold Tech and Telecom Stocks Present A Buying Opportunity in February Oversold Tech and Telecom Stocks Present A Buying Opportunity in February

The communication services sector holds an inviting opportunity to invest in undervalued companies, with some of the most oversold stocks displaying potential for significant recovery.

If evaluated by the Relative Strength Index (RSI), which gauges a stock’s strength on both positive and negative price days, these troubled stocks signal potential upside. An RSI below 30 is generally indicative of oversold conditions.

Here are the latest top contenders in the oversold category in the tech and telecom space, showing a notable RSI near or below 30:

Scienjoy Holding Corporation SJ

  • Scienjoy Holding posted a 9-month loss of 7 cents per share on Dec. 15. Despite the decline, the Chairman and CEO, Victor He, announced groundbreaking developments in SJ Verse and other areas. The company’s stock plunged by approximately 72% over the past month, reaching its 52-week low at $0.6560.
  • RSI Value: 26.75
  • SJ Price Action: Shares of Scienjoy rose by 5.9% to close at $0.8260 on Thursday.

Global Mofy Metaverse Limited GMM

  • Global Mofy Metaverse posted a FY23 EPS of 26 cents per share on Jan. 31, with its stock slumping by around 25% over the past month, reaching its 52-week low at $2.08.
  • RSI Value: 26.51
  • GMM Price Action: Shares of Global Mofy Metaverse witnessed a 2.7% rise to close at $2.29 on Thursday.

Moving iMage Technologies, Inc. MITQ

  • Moving iMage Technologies reported a decrease in second-quarter revenue results on Feb. 14. The company’s stock suffered a 23% decline over the past five days, reaching its 52-week low at $0.6506.
  • RSI Value: 24.37
  • MITQ Price Action: Shares of Moving iMage Technologies fell by 3.1% to close at $0.6506 on Thursday.
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Iridium Communications Inc. IRDM

  • Iridium Communications reported flat fourth-quarter FY23 revenue growth to $194.74 million on Feb. 15, with its shares plummeting by 12% over the past five days. The company’s 52-week low stands at $30.42.
  • RSI Value: 19.73
  • IRDM Price Action: Shares of Iridium Communications dropped by 13% to close at $30.47 on Thursday.

 

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