Investors now have the chance to buy into undervalued companies in the communication services sector, identified as the most oversold stocks in the market.

The Relative Strength Index (RSI) is a key momentum indicator that compares the strength of a stock during price increases to its strength during price declines. Traders often use this metric to gauge short-term stock performance. A stock is typically deemed oversold when its RSI falls below 30, as indicated by Benzinga Pro.

Below is the current list of major companies in this sector with an RSI nearing or below 30.

IAC Inc IAC

• On Monday after the market closed, IAC announced its board approved a plan to spin off its entire stake in Angi to IAC shareholders. In this transition, IAC CEO Joey Levin will step down and take on the role of advisor along with becoming the executive chairman of Angi. Barry Diller, senior executive and chairman of IAC, remarked, “Joey Levin has wanted a store of his own for some time, and the spin-off of Angi affords him this opportunity. Although IAC will relinquish his services as CEO, we expect that he will continue to advise us for many years.” Over the past month, IAC’s stock has decreased by approximately 7%, reaching a 52-week low of $39.61.
• RSI Value: 28.5
• IAC Price Action: Shares of IAC increased by 0.4%, closing at $41.65 on Tuesday.
• Benzinga Pro’s real-time news updates reported the latest developments regarding IAC.

Fubotv Inc FUBO

• FuboTV, in collaboration with The Walt Disney Company DIS, announced on January 6 a definitive agreement to merge Disney’s Hulu + Live TV with Fubo, creating a combined virtual MVPD company. As a consequence, Fubo’s stock has dropped roughly 29% in the past five days, with a 52-week low recorded at $1.10.
• RSI Value: 19.2
• FUBO Price Action: FuboTV’s shares declined by 14.4%, closing at $3.81 on Tuesday.
• Benzinga Pro’s charting tools were instrumental in tracking the trends observed in FUBO stock.

Getty Images Holdings Inc GETY

• On January 7, Getty Images and Shutterstock officially unveiled a $3.7 billion merger. This news corresponded with Getty’s stock declining approximately 30% over the previous five days, reaching a 52-week low of $2.06.
• RSI Value: 24
• GETY Price Action: Getty Images shares rose by 5.7%, closing at $2.58 on Tuesday.
• Benzinga Pro’s signals feature highlighted a potential breakout for GETY shares.

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