Top 3 Tech & Telecom Stocks That Could Blast Off In September

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 TTD

• On Sept. 10, Morgan Stanley downgraded the stock from Overweight to Equal-Weight and cut its price target from $80 to $50. The company’s stock fell around 13% over the past five days and has a 52-week low of $42.96.
• RSI Value: 24.3
• TTD Price Action: Shares of Trade Desk fell 2% to close at $45.24 on Thursday.
• Edge Stock Ratings: 7.91 Momentum score with Value at 26.11.

Iridium Communications Inc IRDM           

• On Sept. 11, Raymond James analyst Ric Prentiss downgraded Iridium Communications from Strong Buy to Outperform and lowered the price target from $39 to $26. The company’s stock fell around 25% over the past five days and has a 52-week low of $17.08.
• RSI Value: 25.2
• IRDM Price Action: Shares of Iridium Communications gained 2.4% to close at $18.39 on Thursday.
• Benzinga Pro’s charting tool helped identify the trend in IRDM stock.

Kuke Music Holding Ltd – ADR KUKE

• On Aug. 7, WEY and KUKE Music officially signed an in-depth cooperation agreement. The company’s stock fell around 24% over the past five days and has a 52-week low of $1.45.
• RSI Value: 29.6
• KUKE Ltd Price Action: Shares of Kuke Music closed at $1.50 on Thursday.
• Benzinga Pro’s signals feature notified of a potential breakout in KUKE 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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