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.
Grid Dynamics Holdings Inc (NASDAQ:GDYN)
- Grid Dynamics will host a video conference call on Thursday, July 31 to discuss its second quarter financial results. The company's stock fell around 16% over the past five days and has a 52-week low of $10.26.
- RSI Value: 26.5
- GDYN Price Action: Shares of Grid Dynamics fell 1.4% to close at $10.31 on Tuesday.
- Edge Stock Ratings: 13.88 Momentum score with Value at 10.36.
Nokia Oyj (NYSE:NOK)
- On July 14, Nokia added three mobile technology tools to Alphabet (NASDAQ:GOOGL) Google Cloud Marketplace, making it easier for developers worldwide to use them when building apps. These tools, Quality of Service on Demand, Number Verification, and Device Location Verification, help apps run better and more securely on mobile networks. The company's stock fell around 10% over the past month and has a 52-week low of $3.60.
- RSI Value: 21.7
- NOK Price Action: Shares of Nokia fell 2.7% to close at $4.75 on Tuesday.
- Benzinga Pro’s charting tool helped identify the trend in NOK stock.
Methode Electronics Inc (NYSE:MEI)
- On July 9, Methode Electronics reported a fourth-quarter adjusted EPS miss and issued FY26 revenue guidance below estimates. President and Chief Executive Officer Jon DeGaynor said, “The Methode transformation journey made further progress in the quarter, as we focused on improving execution to drive long-term value. We have built a new management team and set records for the quarter and the year in data center power product sales, with the year finishing at over $80 million.” The company's stock fell around 38% over the past five days and has a 52-week low of $5.08.
- RSI Value: 25.6
- MEI Ltd Price Action: Shares of Methode Electronics fell 3.6% to close at $6.48 on Tuesday.
- Benzinga Pro’s signals feature notified of a potential breakout in MEI shares.
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