The most overbought stocks in the information technology 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.

Tingo Group, Inc. (NASDAQ:TIO)

• Tingo announced an exclusive agreement with Prime Commodity Exchange and All Farmers Association of Nigeria.. The company’s stock has a 52-week high of $2.21 .
• RSI Value: 74.38
• TIO Price Action: Shares of Tingo Group rose 0.9% to close at $2.18 on Thursday.

TROOPS, Inc. (NASDAQ:TROO)

• TROOPS recently formed a Special committee to investigate allegations against Independent Director Mr. Wang Tai Dominic Li. The company’s stock has a 52-week high of $4.89.
• RSI Value: 74.96
• TROO Price Action: Shares of TROOPS rose 5.4% to close at $4.8399 on Thursday.

National Instruments Corporation (NASDAQ:NATI)

SAP SE (NYSE:SAP)

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