Benzinga - by Lisa Levin, Benzinga Editor.
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.
Hanryu Holdings, Inc. (NASDAQ: HRYU)
- Hanryu Holdings posted a wider loss for the third quarter. "We were proud to successfully complete Hanryu's Initial Public Offering "IPO" during the third quarter, which enabled us to execute upon our strategic priorities to grow our leading K-culture fandom media platform," said Chief Executive Officer of Hanryu Holdings, Kang Chang Hyuk. The company’s stock has a 52-week low of $0.4710 .
- RSI Value: 11.66
- HRYU Price Action: Shares of Hanryu Holdings fell 0.7% to close at $0.4996 on Wednesday.
- Trivago posted downbeat quarterly results. It has a 52-week low of $2.54.
- RSI Value: 19.89
- TRVG Price Action: Shares of trivago fell 0.7% to close at $2.67 on Wednesday.
- Gambling.com reported revenue of $23.5 million in the third quarter, up 19% from the same period last year. “Our third quarter results highlight our consistent performance driven by robust organic growth in North America,” Charles Gillespie, chief executive officer and co-founder of Gambling.com Group, said. The company’s stock has a 52-week low of $8.10.
- RSI Value: 21.41
- GAMB Price Action: Shares of Gambling.com fell 0.9% to close at $9.98 on Wednesday.
- On Oct. 26, Starbox Group and its subsidiary, Starbox International entered into a share sale agreement with the current shareholders of ProSeeds Limited to acquire 100% of the issued and paid-up share capital in exchange for 12 million shares valued at $12 million. The company’s 52-week low is $0.25.
- RSI Value: 19.92
- STBX Price Action: Shares of Starbox Group fell 11% to close at $0.2607 on Wednesday.
- LQR House recently announced a 60-for-1 reverse stock split. The company has a 52-week low of $0.0390.
- RSI Value: 18.81
- LQR Price Action: Shares of LQR House fell 17.8% to close at $0.0411 on Wednesday.
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