Top 3 Tech And Telecom Stocks That May Rocket Higher This Month

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.

T-Mobile US Inc (NASDAQ:TMUS)

• According to a Reuters report, SoftBank offloaded 21.5 million T-Mobile shares at $224 each. This price point reflects a discount of approximately 3% compared to T-Mobile's closing price of $230.99 on Monday. The company's stock fell around 9% over the past month and has a 52-week low of $173.74.
• RSI Value: 23.9
• TMUS Price Action: Shares of T-Mobile fell 4.1% to close at $221.43 on Tuesday.
• Edge Stock Ratings: 77.53 Momentum score with Value at 24.68.

WPP PLC (NYSE:WPP)    

• On Feb. 27, WPP reported fourth-quarter and 2024 preliminary results. Revenue for the year was 14.74 billion British pounds ($18.8 billion) compared to 14.85 billion British pounds in 2023. The company's stock fell around 13% over the past month and has a 52-week low of $31.52.
• RSI Value: 27.1
• WPP Price Action: Shares of WPP fell 4.2% to close at $35.23 on Tuesday.
• Benzinga Pro’s charting tool helped identify the trend in WPP stock.

Vimeo Inc (NASDAQ:VMEO)

• Vimeo’s Gillian Munson will step down as CFO effective Aug. 8. The company's stock fell around 10% over the past month and has a 52-week low of $3.44.
• RSI Value: 29.4
• VMEO Ltd Price Action: Shares of Vimeo fell 3% to close at $4.16 on Monday.
• Benzinga Pro’s signals feature notified of a potential breakout in VMEO 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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