Top 3 Tech Stocks Which Could Rescue Your Portfolio This Month
Portfolio Pulse from Avi Kapoor
The article discusses three oversold tech stocks with RSI values below 30, suggesting they may be undervalued: Calix, Inc. (CALX), GDS Holdings Limited (GDS), and Aehr Test Systems (AEHR). Calix's stock fell after issuing lower than expected guidance, GDS Holdings reported revenue growth but missed consensus, and Aehr Test Systems lowered its full-year revenue guidance due to a slowdown in the electric vehicle market.
January 30, 2024 | 12:10 pm
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Aehr Test Systems lowered its full-year revenue guidance due to a slowdown in the EV market, resulting in a 35% stock price drop over the past month.
Aehr Test Systems' recent price gain and low RSI suggest the stock may be reaching a point where it is considered oversold, which could attract buyers and drive a short-term price increase.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Calix, Inc. reported lower than expected adjusted EPS and revenue guidance, causing a stock decline over the past five days. However, shares gained 3.3% recently.
The recent gain in CALX shares despite the negative guidance suggests investor interest at lower prices. The RSI indicates the stock may be oversold, potentially leading to a short-term rebound.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
GDS Holdings reported a 6.4% Y/Y revenue growth but missed the consensus. The stock fell around 34% over the past month but closed slightly higher recently.
GDS's stock price drop and low RSI may attract buyers looking for undervalued stocks, potentially leading to a short-term price increase.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80