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.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
ForgeRock, Inc. (NYSE:FORG)
- ForgeRock, during November, posted a Q3 loss of $0.01 per share. The company's stock has a 52-week low of $11.94 .
- RSI Value: 27.76
- FORG Price Action: Shares of ForgeRock rose 0.2% to settle at $19.84 on Monday and added 0.1% in after-hours trading.
MoneyGram International, Inc. (NASDAQ:MGI)
- MoneyGram said one regulatory approval is remaining for merger with Madison Dearborn Partners. The company's stock has a 52-week low of $8.47.
- RSI Value: 21.86
- MGI Price Action: Shares of MoneyGram International fell 0.8% to close at $10.78 on Monday and lost 0.2% in after-hours trading.
Arqit Quantum Inc. (NASDAQ:ARQQ)
- Arqit Quantum, last month, reported FY22 results and filed for a mixed shelf of up to $100 million. The company's stock has a 52-week low of $1.99.
- RSI Value: 28.83
- ARQQ Price Action: Shares of Arqit Quantum fell 4.3% to close at $2.03 on Monday and added 3% in after-hours trading.
Plexus Corp. (NASDAQ:PLXS)
- Plexus reported worse-than-expected Q1 sales results and issued Q2 EPS and revenue guidance below estimates. The company's 52-week low is $74.53.
- RSI Value: 25.02
- PLXS Price Action: Shares of Plexus fell 1.5% to close at $92.12 on Monday and added 2.4% in after-hours trading.
Cerberus Cyber Sentinel Corporation (NASDAQ:CISO)
- Cerberus Sentinel recently announced plans to acquire RAN Security. The company has a 52-week low of $1.30.
- RSI Value: 11.55
- CISO Price Action: Shares of Cerberus Cyber Sentinel dropped 12.6% to close at $1.39 on Monday and added 2.9% in after-hours trading.
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