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.

Telecom Argentina S.A. (NYSE:TEO)

• Telecom Argentina reported a net income of P$39,407 million for the six month period ended June 30, 2023.. The company’s stock has a 52-week high of $6.88.
• RSI Value: 70.54
• TEO Price Action: Shares of Telecom Argentina fell 2.3% to close at $5.87 on Thursday.

Frontier Communications Parent, Inc. (NASDAQ:FYBR)

• Benchmark analyst Matthew Harrigan reiterated Frontier Communications Parent with a Buy and a $35 price target. The company’s stock has a 52-week high of $30.83.
• RSI Value: 71.56
• FYBR Price Action: Shares of Frontier Communications fell 0.8% to close at $18.78 on Thursday.

SciPlay Corporation (NASDAQ:SCPL)

IDT Corporation (NYSE:IDT)

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