Benzinga - by Avi Kapoor, Benzinga Staff Writer.
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.
Charge Enterprises, Inc. (NASDAQ: CRGE)
- On Nov. 8, Charge Enterprises posted downbeat quarterly sales. "Our third quarter results were highlighted by our Infrastructure segment once again, as shown by the 19% growth in revenue and 59% growth in gross profit versus the prior year, which was driven by strong project delivery within our electrical services business and momentum within our EV charging business, including the Greenspeed acquisition," said Craig Denson, Interim Chief Executive Officer and Chief Operating Officer The company’s stock fell around 28% over the past five days and has a 52-week low of $0.1196 .
- RSI Value: 26.99
- CRGE Price Action: Shares of Charge Enterprises fell 12.2% to close at $0.1292 on Friday.
- On Dec. 7, 36KR Holdings posted a decline in third-quarter sales. Mr. Dagang Feng, Co-chairman and CEO of 36Kr, commented, "We delivered another quarter of solid top-line growth in the third quarter of 2023 despite uncertainties in the macro environment." The company’s stock fell more than 7% over the past five days. It has a 52-week low of $0.60.
- RSI Value: 25.97
- KRKR Price Action: Shares of 36Kr Holdings fell 7% to close at $0.6101 on Friday.
- On Nov. 2, Fangdd Network Group announced the resignation of Ms. Li Xiao as a member of the Company’s board of directors and Vice President of the Company. The company’s stock fell more than 22% over the past five days and has a 52-week low of $0.6208.
- RSI Value: 25.17
- DUO Price Action: Shares of Fangdd Network fell 8.5% to close at $0.65 on Friday.
- On Nov. 3, Shenandoah posted upbeat quarterly results. “We are very pleased with the continued growth for our Glo Fiber Markets, reflected in a new milestone in number of passings and the growth in subscribers and revenue. Glo Fiber’s accelerating growth and increased scale contributed to solid financial results for the quarter, and reflected ongoing success of execution of our Fiber First strategy,” said President and CEO, Christopher E. French. The company’s shares lost around 10% over the past month. The company’s 52-week low is $15.62.
- RSI Value: 29.11
- SHEN Price Action: Shares of Shenandoah Telecommunications fell 2.5% to close at $20.82 on Friday.
- On Nov. 21, Gamer Pakistan announced a share repurchase program of up to $1 million. The company’s shares fell around 27% over the past month. The company has a 52-week low of $0.4750.
- RSI Value: 28.75
- GPAK Price Action: Shares of Gamer Pakistan fell 4.1% to close at $0.4810 on Friday.
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