Top 3 Tech Stocks That May Rocket Higher This Month

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, according to Benzinga Pro.

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

Monday.Com Ltd MNDY

• On Aug. 11, Monday.com posted second-quarter results. The company reported a quarterly revenue growth of 27% year-on-year (Y/Y) to $299.01 million, beating the analyst consensus estimate of $293.54 million.  The project management software company’s adjusted EPS of $1.09 beat the analyst consensus estimate of 86 cents.. The company’s stock fell around 34% over the past five days and has a 52-week low of $171.54.
• RSI Value: 15.2
• MNDY Price Action: Shares of Monday.Com fell 1.1% to close at $172.15 on Tuesday.
• Edge Stock Ratings: 9.31 Momentum score with Value at 11.26.

C3.ai Inc AI          

• On Aug. 8, C3.Ai reported preliminary first-quarter revenue guidance results.. The company’s stock fell around 37% over the past month and has a 52-week low of $14.70.
• RSI Value: 25.7
• AI Price Action: Shares of C3.ai gained 2.7% to close at $16.91 on Tuesday.
• Benzinga Pro’s charting tool helped identify the trend in AI stock.

Kyndryl Holdings Inc KD

• On Aug. 6, Kyndryl expanded strategic alliance with HPE to accelerate customer adoption of AI private cloud solutions. “Our expanded alliance with HPE illustrates our shared commitment to driving innovation and accelerating customer implementation of private AI solutions,” said Nicolas Sekkaki, Global Cloud Practice Leader, Kyndryl. The company’s stock fell around 25% over the past month and has a 52-week low of $22.11.
• RSI Value: 29.9
• KD Ltd Price Action: Shares of Kyndryl gained 1.7% to close at $29.60 on Tuesday.
• Benzinga Pro’s signals feature notified of a potential breakout in KD 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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