Top 4 Tech Stocks That Should Keep You Up At Night

As of Nov. 21, 2023, four stocks in the information technology sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

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, according to Benzinga Pro.

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

Ondas Holdings Inc. ONDS

• Ondas Holdings posted a narrower-than-expected quarterly loss. "Ondas remains positioned for significant growth in the coming quarters and years. Our balance sheet was strengthened with $25 million of growth capital during July and in the third quarter we achieved record revenue and product shipments at Ondas Networks," said Eric Brock, Ondas' Chairman, CEO, President and Interim CFO. The company’s stock has a 52-week high of $2.72. .
• RSI Value: 82.79
• ONDS Price Action: Shares of Ondas Holdings rose 24.3% to close at $1.13 on Monday.

Gen Digital Inc. GEN

• Gen Digital reported better-than-expected second-quarter sales results. "We created Gen just one year ago, knowing that NortonLifeLock and Avast together would be the company to deliver Cyber Safety to everyone. Our digital lives keep expanding and, unfortunately, cyber threats do too. With our integrated platform and technology, our global reach directly or through partners, and our commitment to serve and win, Gen is best positioned to lead this dynamic and expanding market," said Vincent Pilette, CEO of Gen. The company’s stock has a 52-week high of $23.92.
• RSI Value: 77.80
• GEN Price Action: Shares of Gen Digital rose 0.6% to close at $20.79 on Monday.

Porch Group, Inc. PRCH

• Porch reported better-than-expected third-quarter sales results. "We are pleased to share our financial results with positive Adjusted EBITDA of $8.8 million," said Matt Ehrlichman, Chief Executive Officer, Chairman and Founder. The company has a 52-week high of $3.99.
• RSI Value: 76.58
• PRCH Price Action: Shares of Porch Group fell 1.4% to close at $1.39 on Monday.

Taiwan Semiconductor Manufacturing Company Limited TSM

• Taiwan Semiconductor Manufacturing is reportedly considering the construction of a third advanced chipmaking plant in Japan, which would produce 3-nanometer chips. The company’s 52-week high is $110.69.
• RSI Value: 72.15
• TSM Price Action: Shares of Taiwan Semiconductor Manufacturing gained 0.4% to close at $99.96 on Monday.

Read More: Investor Optimism Increases Ahead Of FOMC Minutes; Dow Jumps Over 200 Points