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, according to Benzinga Pro.

• On Oct. 29, Qorvo reported quarterly earnings of $1.88 per share, which beat the analyst consensus estimate of $1.85. Quarterly revenue came in at $1.047 billion, which beat the consensus estimate of $1.028 billion and is a decrease from sales of $1.104 billion from the same period last year. The company's stock fell around 27% over the past month and has a 52-week low of $70.38.
• RSI Value: 19.69                        
• QRVO Price Action: Shares of Qorvo gained 1.5% to close at $72.86 on Wednesday.
• Benzinga Pro's real-time newsfeed alerted to latest QRVO news.

• ASML Holding CEO Christophe Fouquet anticipates growing pressure from the United States to tighten restrictions on semiconductor technology sales to China. The company's stock fell around 19% over the past month and has a 52-week low of $633.80.
• RSI Value: 29.43
• ASML Price Action: Shares of ASML fell 2.2% to close at $661.43 on Wednesday.
• Benzinga Pro’s charting tool helped identify the trend in ASML stock.

• On Nov. 5, Super Micro Computer provided a business update for the first quarter and reported preliminary results. Super Micro expects to report first-quarter revenue of $5.9 billion to $6 billion, down from its previous guidance range of $6 billion to $7 billion. The company's stock fell around 52% over the past month and has a 52-week low of $20.20.
• RSI Value: 19.79
• SMCI Price Action: Shares of Super Micro Computer fell 18.1% to close at $22.70 on Wednesday.
• Benzinga Pro’s signals feature notified of a potential breakout in SMCI shares.