Top 3 Tech Stocks That Could Blast Off In December

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.

Motorola Solutions Inc (NYSE:MSI)

• On Nov. 19, Motorola Solutions announced it has acquired Blue Eye, based in Salt Lake City, Utah. “Security professionals know that the challenge isn’t solely identifying the threat; it’s about moving from detection to action in a matter of seconds,” said Mahesh Saptharishi, executive vice president and chief technology officer, Motorola Solutions. “The acquisition of Blue Eye is a key component of our strategic focus to provide a single, tightly integrated workflow that seamlessly connects threat detection, verification and response.” The company’s stock fell around 6% over the past month and has a 52-week low of $365.40.
• RSI Value: 27.3
• MSI Price Action: Shares of Motorola Solutions fell 1.1% to close at $371.49 on Thursday.
• Edge Stock Ratings: 17.40 Momentum score with Value at 16.01.

Zscaler Inc (NASDAQ:ZS)

• On Nov. 25, Zscaler reported quarterly earnings of 96 cents per share, which beat the Street estimate of 86 cents. Quarterly revenue clocked in at $788.1 million, which beat the analyst estimate of $773.75 million, according to data from Benzinga Pro. “Our outstanding Q1 results demonstrate the strong demand we are experiencing for our Zero Trust and AI Security platform,” said Jay Chaudhry, CEO of Zscaler. The company’s stock fell around 25% over the past month and has a 52-week low of $164.78.
• RSI Value: 25.9
• ZS Price Action: Shares of Zscaler fell 0.7% to close at $241.85 on Thursday.
• Benzinga Pro’s charting tool helped identify the trend in ZS stock.

Nutanix Inc (NASDAQ:NTNX)

• On Nov. 25, Nutanix reported worse-than-expected first-quarter sales results and issued second-quarter sales guidance below estimates. “We expect that the revenue over time remains unchanged. We expect this dynamic to continue and have factored it in our Q2 and updated full-year revenue guidance,” said Rukmini Sivaraman, CFO of Nutanix. The company’s stock fell around 32% over the past month and has a 52-week low of $46.13.
• RSI Value: 20
• NTNX Price Action: Shares of Nutanix fell 0.7% to close at $47.11 on Thursday.
• Benzinga Pro’s signals feature notified of a potential breakout in NTNX 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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