Top 5 Tech Stocks That Are Set To Fly This Quarter

The most oversold stocks in the information technology sector presents an opportunity to buy into undervalued 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 oversold when the RSI is below 30.

Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.

Rimini Street, Inc. RMNI

• Craig-Hallum recently downgraded Rimini Street from Buy to Hold and announced a $3 price target. The company’s stock has a 52-week low of $2.1750 .
• RSI Value: 20.43
• RMNI Price Action: Shares of Rimini Street gained 2.6% to close at $2.39 on Friday.

WISeKey International Holding AG WKEY

• WISeKey International Holding reported H1 FY23 revenues. Total unaudited revenue rose 39% Y/Y to $15.1 million.. It has a 52-week low of $2.95.
• RSI Value: 17.58
• WKEY Price Action: Shares of WISeKey International gained 3.3% to close at $4.12 on Friday.

Neonode Inc. NEON

• Neonode posted a first-quarter loss of 9 cents per share. "Our licensing revenues during Q1 were stable indicating that the global supply chain challenges related to semiconductor supply shortages that have hampered our printer and automotive customers' production and sales for the last two years are beginning to improve and that demand for our customers' products is still strong," said Dr. Urban Forssell, Neonode's CEO. The company’s stock has a 52-week low of $3.30.
• RSI Value: 25.36
• NEON Price Action: Shares of Neonode gained 2.74% to close at $4.12 Friday.

T Stamp Inc. IDAI

• T Stamp recently announced pricing of a $2.9 million registered direct offering at $2.30 per share. The company’s 52-week low is $0.7720.
• RSI Value: 26.06
• IDAI Price Action: Shares of T Stamp fell 0.1% to close at $0.8069 on Friday.

SOBR Safe, Inc. SOBR

• SOBR Safe announced that it has initiated commercial production of its alcohol detection wristband, SOBRsure. The company has a 52-week low of $0.65.
• RSI Value: 21.53
• SOBR Price Action: Shares of SOBR Safe gained 2.3% to close at $1.36 on Friday.

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