Top 5 Tech And Telecom Stocks You'll Regret Missing This Month
Portfolio Pulse from Lisa Levin
The article lists the top 5 oversold stocks in the communication services sector, which include Starbox Group Holdings Ltd. (STBX), Cuentas Inc. (CUEN), AMC Entertainment Holdings, Inc. (AMC), IHS Holding Limited (IHS), and Treasure Global Inc. (TGL). These stocks are considered oversold as their Relative Strength Index (RSI) is near or below 30. The companies have recently reported various updates such as increased sales, new employment agreements, equity offerings, lowered guidance, and new ventures.
September 14, 2023 | 12:08 pm
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POSITIVE IMPACT
AMC Entertainment completed an equity offering of 40 million shares, raising $325 million. Its stock jumped 8.8% to close at $8.24 on Wednesday.
The successful equity offering is a positive sign as it provides the company with additional capital. Despite the stock's recent jump, its low RSI value suggests it's currently oversold, which could lead to further gains in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Cuentas entered into an employment agreement with new executives. Its stock fell 10.6% to close at $1.61 on Wednesday.
The new executive appointments could bring fresh perspectives to the company. However, the stock's recent fall and low RSI value suggest it's currently oversold, which could lead to a potential rebound in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
IHS reported mixed Q2 results and lowered FY23 guidance. Its stock fell 4.7% to close at $4.82 on Wednesday.
The mixed Q2 results and lowered guidance are negative signs. However, the stock's recent fall and low RSI value indicate it's currently oversold, which could lead to a potential rebound in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Starbox Group reported increased H1 sales and successful execution of strategic initiatives. However, its stock fell 11.9% to close at $1.18 on Wednesday.
The company's increased sales and successful strategic initiatives are positive signs. However, the stock's recent fall and low RSI value indicate it's currently oversold, which could lead to a potential rebound in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Treasure Global signed a letter of intent to form an e-commerce venture in Indonesia. Its stock fell 0.3% to close at $0.2930 on Wednesday.
The new e-commerce venture could provide growth opportunities for the company. However, the stock's recent fall and low RSI value suggest it's currently oversold, which could lead to a potential rebound in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100