Top 5 Tech Stocks Which Could Rescue Your Portfolio This Month
Portfolio Pulse from Lisa Levin
The article lists five tech stocks that are currently oversold and could potentially boost a portfolio. These include SEALSQ Corp, Cerence Inc., NVE Corporation, Verint Systems Inc., and NetScout Systems, Inc. The companies have reported various financial results, with some experiencing growth and others facing challenges. The stocks are considered oversold as their Relative Strength Index (RSI) is near or below 30.
October 24, 2023 | 12:17 pm
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POSITIVE IMPACT
SEALSQ Corp reported a 20.4% increase in unaudited revenue for the nine-month 2023 period. The stock closed at $1.3950 on Monday with an RSI of 24.93.
The company's reported increase in revenue and robust customer demand could potentially drive the stock price up in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
Cerence Inc. has filed a patent infringement suit against Samsung. The stock closed at $16.49 on Monday with an RSI of 27.78.
The outcome of the lawsuit could impact the stock price, but it's uncertain at this point.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
NetScout Systems, Inc. reported lower-than-expected revenue and a slowing in demand. The stock closed at $21.91 on Monday with an RSI of 26.90.
The lower-than-expected revenue and slowing demand could potentially drive the stock price down in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
NVE Corporation reported a decrease in second-quarter EPS and sales results. The stock closed at $66.16 on Monday with an RSI of 28.82.
The reported decrease in EPS and sales could potentially drive the stock price down in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Verint Systems reported weaker-than-expected second-quarter results. The stock closed at $19.75 on Monday with an RSI of 26.51.
The weaker-than-expected results could potentially drive the stock price down in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100