Top 5 Tech And Telecom Stocks That Are Ticking Portfolio Bombs

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The most overbought stocks in the communication services sector presents an opportunity to go short on these overvalued 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 overbought when the RSI is above 70.

Here’s the latest list of major overbought players in this sector.

Spok Holdings, Inc. SPOK

  • Spok Holdings posted weaker-than-expected quarterly earnings. "I am proud of what the Spok team has been able to accomplish in 2022 and believe that we have established a solid foundation for the future as we continue to execute our focus on generating cash flow and returning capital to stockholders," said Vincent D. Kelly, chief executive officer of Spok Holdings, Inc. The company’s stock has a 52-week high of $10.70 .
  • RSI Value: 90.03
  • SPOK Price Action: Shares of Spok Holdings gained 1.7% to close at $10.55 on Monday.

Scienjoy Holding Corporation SJ

  • Scienjoy Holding reported interim nine months ended Sept. 30, 2022 sales of $199.5 million. The company’s stock has a 52-week high of $6.12.
  • RSI Value: 75.23
  • SJ Price Action: Shares of Scienjoy Holding gained 1.3% to close at $3.89 on Monday.

Integral Ad Science Holding Corp. IAS

  • Integral Ad Science reported better-than-expected Q4 EPS and sales results. "We reported positive fourth quarter results with growth across all business lines," said Lisa Utzschneider, CEO of IAS. "We are off to a solid start to 2023 and expect full-year, double-digit revenue growth as we drive customer adoption of our industry-leading products." The company has a 52-week high of $17.10.
  • RSI Value: 70.86
  • IAS Price Action: Shares of Integral Ad Science Holding gained 3% to close at $12.23 on Monday.

AST SpaceMobile, Inc. ASTS

  • AST SpaceMobile announced a teaming agreement with Fairwinds Technologies. The company’s 52-week high is $14.27.
  • RSI Value: 71.19
  • ASTS Price Action: Shares of AST SpaceMobile jumped 11.9% to close at $6.98 on Monday.

LiveOne, Inc. LVO

  • LiveOne posted better-than-expected quarterly results. LiveOne’s CEO and Chairman, Robert Ellin, commented, "Over the past year, we have been laser focused on optimizing and streamlining our operations, led by our audio business, which includes Slacker Radio and PodcastOne. The combination of improving Contribution Margins, coupled with over $30 million in annual expense and overhead reduction, is resulting in record operating results." The company has a 52-week high of $1.43.
  • RSI Value: 77.60
  • LVO Price Action: Shares of LiveOne gained 18.8% to settle at $1.33 on Friday.

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