Top 3 Tech Stocks Which Could Rescue Your Portfolio This Quarter
Portfolio Pulse from Avi Kapoor
The article highlights three oversold tech stocks with RSI values near or below 30, suggesting they may be undervalued. SMX secured a $5 million NATO contract but fell 23% over five days. WETG found a $2 million expenditure inconsistency and fell 4% over five days. KC missed Q3 revenue estimates and fell 28% over a month.
January 18, 2024 | 11:59 am
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NEUTRAL IMPACT
WeTrade Group reported a $2 million expenditure inconsistency and saw a 4% decline in stock price over five days, with an RSI of 29.70.
The expenditure inconsistency could raise concerns among investors, but the near-oversold RSI level may indicate that the negative impact is already priced in. The stock could stabilize in the short term as investors assess the situation.
CONFIDENCE 65
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Kingsoft Cloud missed Q3 revenue estimates, leading to a 28% stock price drop over a month, with an RSI of 27.89.
The missed revenue estimates have significantly impacted KC's stock price, but the low RSI suggests overselling. The company's strategic plans with Xiaomi and Kingsoft could provide a positive outlook, potentially leading to a short-term price recovery.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
SMX secured a $5 million NATO contract but experienced a 23% stock decline over five days, with an RSI of 17.48.
The significant contract with NATO could be a positive driver for SMX, but the recent price drop and low RSI suggest the stock is currently oversold. This contrast may attract investors looking for undervalued opportunities, potentially leading to a short-term price increase.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90