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Top 5 Tech And Telecom Stocks That May Dip

Benzinga Real-time News ·  Feb 6, 2023 08:57

The most overbought stocks in the communication services sector presents an opportunity to go short on these overvalued 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 overbought when the RSI is above 70. Here's the latest list of major overbought players in this sector. Getty Images Holdings, Inc. (NYSE:GETY) Wedbush, during December, initiated coverage on Getty Images Holdings with an Outperform rating and announced a price target of $6. The company's stock has a 52-week high of $37.88 . RSI Value: 75.88 GETY Price Action: Shares of Getty Images gained 13.9% to close at $7.03 on Friday and lost 4% in after-hours trading. World Wrestling Entertainment, Inc. (NYSE:WWE) The company posted downbeat quarterly results. The company's stock has a 52-week high of $93.63. RSI Value: 70.21 WWE Price Action: Shares of World Wrestling Entertainment jumped 5.2% to close at $89.72 on Friday and added 0.3% in after-hours trading. Starbox Group Holdings Ltd. (NASDAQ:STBX) Starbox, last month, said, FY22 EPS and sales results were higher year over year.. The company has a 52-week high of $46.21. RSI Value: 72.63 STBX Price Action: Shares of Starbox Group rose 2.5% to close at $3.24 on Friday and added 0.3% in after-hours trading. Taboola.com Ltd. (NASDAQ:TBLA) Taboola Beta recently tested integration of generative AI, including ChatGPT. The company's 52-week high is $7.50. RSI Value: 74.19 TBLA Price Action: Shares of Taboola.com gained 2.1% to close at $4.30 on Friday and added 3.3% in after-hours trading. ZipRecruiter, Inc. (NYSE:ZIP) ZipRecruiter recently announced a $50 million accelerated share repurchase agreement. The company has a 52-week high of $25.00. RSI Value: 81.91 ZIP Price Action: Shares of ZipRecruiter rose 1.7% to settle at $21.64 on Friday and added 0.2% in after-hours trading. Read More: $1M Bet On Phillips 66? Check Out These 3 Stocks Insiders Are Buying

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