Identifying Key Oversold Stocks in Technology for Strategic Investment

The information technology sector shows promising signs for investors as several key stocks are currently considered oversold, making them potentially undervalued.

Understanding the RSI Indicator

The Relative Strength Index (RSI) is a popular momentum indicator used to assess stock performance. It compares the strength of price movements during rising days against those on declining days. When a stock’s RSI dips below 30, it’s typically seen as oversold, signaling potential buying opportunities, according to Benzinga Pro.

Top Oversold Stocks in Technology

Here’s a list of notable oversold companies in the technology sector, each with an RSI around 30 or lower.

IMPINJ Inc PI

• On February 5, Impinj reported disappointing fourth-quarter sales and provided first-quarter revenue guidance that fell short of expectations. The stock has dropped about 27% in the last month, reaching a 52-week low of $97.77.
• RSI Value: 22.2
• PI Price Action: Shares closed down 2.2% at $105.38 on Friday.
• Benzinga Pro’s real-time newsfeed delivered updates on PI’s latest performance.

Xerox Holdings Corp XRX

• Xerox’s fourth-quarter adjusted EPS results, reported on January 28, were below analysts’ expectations, contributing to a stock decline of approximately 13% over the past month. The stock hit a 52-week low of $7.81.
• RSI Value: 29.3
• XRX Price Action: The company’s shares fell 6.4%, ending at $7.85 on Friday.
• Benzinga Pro’s charting tool was instrumental in highlighting the trend of XRX stock.

Zebra Technologies Corp ZBRA

• Zebra Technologies is scheduled to report its fourth-quarter and full-year 2024 financial results on February 13. Recently, the stock has seen a decline of around 5% over the past five days, with a 52-week low of $243.48.
• RSI Value: 28.5
• ZBRA Price Action: Shares closed down 3.6% at $363.44 on Friday.
• Benzinga Pro’s signals feature indicated a possible breakout for ZBRA shares.