Top 3 Tech Stocks That Could Lead To Your Biggest Gains This Month

Posted by Admin October 10, 2024 Tech

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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.

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

Endava PLC – ADR (NYSE:DAVA)

On Sept. 19, Endava posted weaker-than-expected quarterly sales. “Looking back, the past fiscal year has been challenging for Endava with our revenue declining by 4.5% in constant currency as a result of significant headwinds across the business, in particular due to our exposure to the UK market and Payments industry vertical. Today, our industry and geographical concentration are more diversified and we have broadened our delivery footprint, evolving into a truly global delivery organization. We are increasing our investment in the people and skills required to support the next wave of digital transformation, which we believe will help us gradually return to stronger levels of profitability,” said John Cotterell, Endava’s CEO. The company’s stock fell around 23% over the past month and has a 52-week low of $23.50.
RSI Value: 25.95
DAVA Price Action: Shares of Endava fell 3.8% to close at $23.59 on Wednesday.
Benzinga Pro’s real-time newsfeed alerted to latest DAVA news.

Verint Systems Inc. (NASDAQ:VRNT)

On Sept. 26, Wedbush analyst Daniel Ives reiterated Verint Systems with an Outperform and maintained a $38 price target.. The company’s stock fell around 9% over the past month. It has a 52-week low of $18.41.
RSI Value: 25.50
VRNT Price Action: Shares of Verint fell 1.6% to close at $23.60 on Wednesday.
Benzinga Pro’s charting tool helped identify the trend in VRNT stock.

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CoreCard Corp (NYSE:CCRD)

On Aug. 1, CoreCard posted better-than-expected quarterly earnings. “Overall revenue of $13.8 million in the second quarter was in-line with our expectations,” said Leland Strange, CEO of CoreCard. “We continue to see encouraging results from the ongoing investment in our platform and processing capabilities, and we continue to onboard new customers that value the features and functionality offered by the CoreCard platform. The lower revenue this quarter compared to last year was primarily driven by lower license revenue and lower processing revenue from Kabbage.” The company’s shares fell around 11% over the past month and has a 52-week low of $10.02.
RSI Value: 28.61
CCRD Price Action: Shares of CoreCard fell 2.5% to close at $12.94 on Tuesday.
Benzinga Pro’s signals feature notified of a potential breakout in CCRD shares.