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Top 3 tech stocks that are preparing to pump in July

Top 3 Tech Stocks That Are Preparing To Pump In July
Top 3 Tech Stocks That Are Preparing To Pump In July

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,...

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, according to Benzinga Pro.

Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.

Eastman Kodak Co KODK

  • On July 1, Eastman Kodak filed a prospectus for offering 4.426 million common shares on behalf of selling shareholders. The company’s stock fell around 22% over the past month and has a 52-week low of $4.94.
  • RSI Value: 28.4
  • KODK Price Action: Shares of Eastman Kodak gained 1.6% to close at $7.78 on Tuesday.
  • Edge Stock Ratings: 23.16 Momentum score.
Top 3 Tech Stocks That Are Preparing To Pump In July

Cango Inc – ADR CANG 

  • On July 10, Cango announced a 1-for-10 reverse stock split. The company’s stock fell around 24% over the past month and has a 52-week low of $1.60.
  • RSI Value: 27.1   
  • CANG Price Action: Shares of Cango fell 1.4% to close at $1.76 on Tuesday.
  • Benzinga Pro’s charting tool helped identify the trend in CANG stock.
Top 3 Tech Stocks That Are Preparing To Pump In July

Tucows Inc TCX

  • On May 7, Tucows posted first-quarter adjusted loss of $1.51 per share, versus a year-ago loss of $1.35 per share. “Our first quarter results reflect steady execution across the business, with consolidated revenue and gross profit increasing year over year, driven by strong growth at Ting and continued margin gains in Tucows Domains,” said David Woroch, CEO of Tucows. The company’s stock fell around 25% over the past month and has a 52-week low of $9.51.
  • RSI Value: 26.9
  • TCX Price Action: Shares of Tucows fell 3.8% to close at $9.86 on Tuesday.
  • Benzinga Pro’s signals feature notified of a potential breakout in TCX shares.
Top 3 Tech Stocks That Are Preparing To Pump In July

Learn more about BZ Edge Rankings—click to see scores for other stocks in the sector and see how they compare.

Photo via Shutterstock

This article Top 3 Tech Stocks That Are Preparing To Pump In July originally appeared on Benzinga.com.

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