Top 5 Tech Stocks That May Surge

Author: Lisa Levin | January 12, 2023 08:20am

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.

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

Renren Inc. (NYSE:RENN)

• Renren announced a special cash distribution of $31.5585 per ADS. The company’s stock has a 52-week low of $1.29 .
• RSI Value: 11.01
• RENN Price Action: Shares of Renren fell 5.6% to settle at $2.03 on Wednesday and added 0.5% in today’s pre-market trading.

D-Wave Quantum Inc. (NYSE:QBTS)

• D-Wave and Davidson Technologies entered into multi-year reseller agreement. The company’s stock has a 52-week low of $1.02.
• RSI Value: 25.95
• QBTS Price Action: Shares of D-Wave Quantum closed at $1.11 on Wednesday and added 2.7% in today’s pre-market trading.

Cerberus Cyber Sentinel Corporation (NASDAQ:CISO)

• Cerberus Sentinel announced plans to acquire RAN Security. The company’s stock has a 52-week low of $1.88.
• RSI Value: 23.60
• CISO Price Action: Shares of Cerberus Cyber Sentinel fell 2% to close at $1.92 on Wednesday and added 4.6% in today’s pre-market trading.

 

Arqit Quantum Inc. (NASDAQ:ARQQ)

• Arqit Quantum, last month, reported FY22 results and filed for a mixed shelf of up to $100 million. The company’s 52-week low is $2.43.
• RSI Value: 28.09
• ARQQ Price Action: Shares of Arqit Quantum fell 5.2% to close at $2.56 on Wednesday and added 5.9% in after-hours trading.

Ascent Solar Technologies, Inc. (NASDAQ:ASTI)

• Ascent Solar Technologies secured $50 million equity-based financing. The company has a 52-week low of $1.28.
• RSI Value: 24.71
• ASTI Price Action: Shares of Ascent Solar Technologies rose 0.8% to close at $1.34 on Wednesday.

Read More: Citigroup To Report Earnings On Friday; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts

Posted In: ARQQ ASTI CISO QBTS RENN