Top 3 Tech Stocks Which Could Rescue Your Portfolio This Month
Portfolio Pulse from Lisa Levin
The article highlights three oversold tech stocks with RSI values near or below 30, suggesting they may be undervalued: reAlpha Tech Corp. (AIRE), Cisco Systems, Inc. (CSCO), and Edgio, Inc. (EGIO). AIRE recently filed a prospectus for a common units offering, CSCO cut FY24 guidance and issued lower-than-expected Q2 guidance, and EGIO posted better-than-expected Q3 sales.
November 21, 2023 | 12:11 pm
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POSITIVE IMPACT
reAlpha Tech Corp. filed for a common units offering at $12/unit, with a 52-week low of $4.05 and a closing price of $7.19. RSI at 2.52 indicates extreme overselling.
The extremely low RSI for AIRE suggests the stock is heavily oversold, which could attract buyers looking for undervalued stocks, potentially driving up the price in the short term.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Edgio, Inc. reported better-than-expected Q3 sales, with a 52-week low of $0.45 and a closing price of $0.5390. RSI at 29.83 indicates the stock is close to being oversold.
Edgio's positive sales results combined with an RSI close to the oversold threshold could lead to increased investor interest, potentially boosting the stock price in the short term.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 85
NEUTRAL IMPACT
Cisco Systems cut FY24 guidance and issued Q2 adjusted EPS and revenue guidance below estimates, with a 52-week low of $45.56. RSI at 28.56 suggests it's nearing oversold territory.
While the cut in guidance is a negative signal, the RSI nearing 30 could indicate that the stock is becoming oversold. This mixed information leads to a neutral short-term impact score.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80