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.

fuboTV Inc. (NYSE:FUBO)

• Barrington Research reiterated FuboTV from Market Perform to Market Perform. The company’s stock has a 52-week high of $8.14 .
• RSI Value: 70.74
• FUBO Price Action: Shares of fuboTV rose 15.7% to close at $2.21 on Tuesday.

Gambling.com Group Limited (NASDAQ:GAMB)

• Gambling.Com Group reported first-quarter FY23 revenue growth of 36.3% year-over-year to $26.69 million, beating the consensus of $25.17 million. The company’s stock has a 52-week high of $11.49.
• RSI Value: 72.62
• GAMB Price Action: Shares of Gambling.com fell 1.6% to close at $11.14 on Tuesday.

TIM S.A. (NYSE:TIMB)

• Goldman Sachs analyst Vitor Tomita initiated coverage on TIM with a Neutral rating and announced a price target of $15. The company has a 52-week high of $15.49.
• RSI Value: 70.05
• TIMB Price Action: Shares of TIM fell 0.4% to close at $15.16 on Tuesday.

Gogo Inc. (NASDAQ:GOGO)

Meta Platforms, Inc. (NASDAQ:META)

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