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.

CalAmp Corp. (NASDAQ:CAMP)

• On Jan. 26, CalAmp announced a 1-for-23 reverse stock split. The company's stock fell around 15% over the past five days and has a 52-week low of $2.29 .
• RSI Value: 19.61
• CAMP Price Action: Shares of CalAmp fell 5.5% to close at $2.74 on Wednesday.

Luna Innovations Incorporated (NASDAQ:LUNA)

• On March 12, Luna Innovations announced that it will delay the release of its fourth-quarter and FY23 financial results. and said financial statements for the quarters ended Jun. 30 and Sept. 30 should no longer be relied upon. The company's stock fell around 45% over the past month. It has a 52-week low of $3.56.
• RSI Value: 25.18
• LUNA Price Action: Shares of Luna Innovations gained 1% to close at $3.92 on Wednesday.

Methode Electronics, Inc. (NYSE:MEI)

• On March 7, Methode Electronics reported worse-than-expected third-quarter financial results and suspended guidance. The company's stock fell around 44% over the past month and has a 52-week low of $11.26.
• RSI Value: 20.77
• MEI Price Action: Shares of Methode Electronics gained 1.9% to close at $12.23 on Wednesday.

Read More: Investor Sentiment Improves Following Fed's Decision, Dow Jumps 400 Points