Opportunity in Oversold Stocks
The information technology sector is a playground where the bulls and the bears meet, and the recent market volatility has presented an enticing opportunity for investors to swoop in on oversold stocks. The Relative Strength Index (RSI) is a key tool for identifying such opportunities, signaling when a stock may be undervalued. In a market driven by the mercurial behavior of tech stocks, it pays to look at the RSI.
SMX (Security Matters) Public Limited Company
- On Jan. 12, SMX secured a $5 million contract with R&I for NATO supply chain transparency. The company’s stock fell around 23% over the past five days and has a 52-week low of $0.3030.
WeTrade Group, Inc.
- On Dec. 1, WeTrade Group said it found an expenditure of $2 million inconsistent with the 2022 annual report from conducted internal investigation. The company’s stock fell around 4% over the past five days. It has a 52-week low of $0.0330.
Kingsoft Cloud Holdings Limited
- On Nov. 21, Kingsoft Cloud Holdings reported a third-quarter FY23 revenue of $222.754 million, missing the consensus of $244.77 million. Tao Zou, Chief Executive Officer of Kingsoft Cloud, commented, “We expect to deepen our strategic planning and engagement with Xiaomi and Kingsoft in their comprehensive AI cloud demand to capture market opportunities, maintain the healthy trajectory of continued profitability improvement, and generate value for our shareholders.” The company’s stock fell around 28% over the past month and has a 52-week low of $2.52.
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