Top 3 Tech & Telecom Stocks That Are Preparing To Pump This Month
Portfolio Pulse from Avi Kapoor
The article highlights three oversold tech and telecom stocks with RSI values near or below 30, indicating potential buying opportunities. AMC Entertainment Holdings, Inc. (NYSE:AMC) reported record-breaking box office sales from a Taylor Swift concert film, yet its stock fell 9% over five days. Salem Media Group, Inc. (NASDAQ:SALM) announced its voluntary delisting from Nasdaq, leading to a 24% stock decline over five days. JOYY Inc. (NASDAQ:YY) received a notice terminating a Share Purchase Agreement with a Baidu affiliate, causing a 26% drop in its stock over the past month.
January 19, 2024 | 12:08 pm
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POSITIVE IMPACT
AMC Entertainment's stock fell 9% despite record-breaking sales from a Taylor Swift concert film. With an RSI of 25.80, it may be undervalued.
The positive news of a record-breaking concert film contrasts with the recent stock price decline, indicating a potential for rebound due to perceived undervaluation.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
JOYY Inc.'s stock fell 26% after a terminated agreement with a Baidu affiliate. The RSI of 28.83 suggests it might be oversold.
The termination of a significant agreement is a negative event, but the RSI nearing 30 could indicate the stock is approaching oversold territory.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Salem Media's stock plummeted 24% following its decision to voluntarily delist from Nasdaq. With an RSI of 19.48, it's heavily oversold.
The decision to delist is typically viewed negatively by investors, and the low RSI indicates the stock may continue to face downward pressure.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90