Top 3 Tech And Telecom Stocks Which Could Rescue Your Portfolio For Q4

The most oversold stocks in the communication services 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, according to Benzinga Pro.

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

Trade Desk Inc (NASDAQ:TTD)

• On Nov. 6, Trade Desk reported quarterly earnings of 45 cents per share, which beat the consensus estimate of 44 cents. Quarterly revenue clocked in at $739.43 million, which beat the Street estimate of $718.69 million. “Q3 was another strong quarter for The Trade Desk, with revenue growing to $739 million, representing 18% year-over-year growth,” said Jeff Green, CEO of The Trade Desk. The company’s stock fell around 27% over the past month and has a 52-week low of $38.22.
• RSI Value: 29.8
• TTD Price Action: Shares of Trade Desk rose 0.1% to close at $39.09 on Tuesday.
• Edge Stock Ratings: 91.92 Momentum score with Value at 93.51.

Zhihu Inc – ADR (NYSE:ZH)       

• On Nov. 25, Zhihu reported a year-over-year decrease in third-quarter financial results. “We are firmly on track to achieve full-year non-GAAP breakeven, with solid progress made during the quarter,” said Mr. Yuan Zhou, chairman and chief executive officer of Zhihu. The company’s stock fell around 15% over the past month and has a 52-week low of $3.19.
• RSI Value: 29.3
• ZH Price Action: Shares of Zhihu fell 7.7% to close at $3.71 on Tuesday.
• Benzinga Pro’s charting tool helped identify the trend in ZH stock.

Spotify Technology SA (NYSE:SPOT)

• On Nov. 4, Spotify reported better-than-expected third-quarter financial results. The company’s stock fell around 8% over the past five days and has a 52-week low of $443.21.
• RSI Value: 28.7
• SPOT Price Action: Shares of Spotify rose 0.1% to close at $585.47 on Tuesday.
• Benzinga Pro’s signals feature notified of a potential breakout in SPOT shares.

• Learn more about BZ Edge Rankings—click to see scores for other stocks in the sector and see how they compare.

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