Opportunity beckons for savvy investors eyeing the most oversold stocks within the communication services sector, offering a chance to tap into undervalued companies.
Consider the Relative Strength Index (RSI), a potent momentum gauge comparing a stock’s strength on up versus down days. A stock is deemed oversold when its RSI value dips below 30. The RSI can provide insights into a stock’s short-term performance.
Here’s a rundown of three prominent oversold players in this sector, each sporting an RSI near or below the critical threshold of 30.
comScore Inc SCOR
- Recently, comScore reported a Q2 financial performance that trailed expectations and revised its FY24 revenue guidance downwards. CEO Jon Carpenter expressed confidence in the company’s strategic direction despite the setback. ComScore’s stock underwent a 45% dip over the past month, hitting a 52-week low of $6.41.
- RSI Value: 28.03
- SCOR Price Action: comScore saw a 2.3% rise in stock price to close at $7.17 on the last trading day.
SPAR Group Inc SGRP
- SPAR Group recently posted robust quarterly sales figures, with the CEO attributing the success to a focused growth strategy in the Americas. The company’s stocks dipped by 20% in the past month, hitting a 52-week low of $0.70.
- RSI Value: 25.61
- SGRP Price Action: SPAR Group’s stock closed at $1.45 on the most recent trading day.
IQIYI Inc – ADR IQ
- Goldman Sachs recently downgraded iQIYI from Buy to Neutral, setting a price target of $2.8. The company’s shares tumbled by 31% over the past month, reaching a 52-week low of $2.08.
- RSI Value: 26.24
- IQ Price Action: iQIYI observed a 4% drop in stock price, closing at $2.15 at the end of the last trading session.