Top 5 Tech Stocks That Could Lead To Your Biggest Gains This Month
Portfolio Pulse from Avi Kapoor
The article highlights five oversold tech stocks with RSI values near or below 30, indicating potential buying opportunities. The stocks mentioned are DoubleVerify Holdings, NICE Ltd., Hollysys Automation Technologies, DXC Technology, and BlackLine.
May 23, 2024 | 12:36 pm
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NEUTRAL IMPACT
BlackLine announced the upsize and pricing of a $600 million convertible senior notes offering. The stock fell around 12% over the past five days, with an RSI of 27.85.
The convertible notes offering may dilute existing shares, but the low RSI suggests the stock is oversold, potentially balancing the impact.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 100
NEUTRAL IMPACT
DXC Technology reported Q4 earnings that beat estimates but provided lower-than-expected FY 2025 guidance. The stock lost around 17% over the past five days, with an RSI of 28.94.
The mixed signals from strong Q4 earnings but disappointing FY 2025 guidance may keep the stock price stable in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
NICE Ltd. reported upbeat Q1 earnings but issued Q2 revenue guidance below estimates. The stock fell around 7% over the past five days, with an RSI of 29.06.
While the Q1 earnings were positive, the lower-than-expected Q2 guidance may neutralize the impact, keeping the stock price stable in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
DoubleVerify Holdings announced a $150 million share repurchase program. Despite this, the stock fell around 38% over the past month, hitting a 52-week low of $17.74. RSI is at 24.25.
The share repurchase program is a positive signal, and the low RSI suggests the stock is oversold, potentially leading to a short-term price increase.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Hollysys Automation Technologies posted an increase in quarterly sales but saw its stock fall around 9% over the past month. RSI is at 22.24.
The increase in sales is a positive indicator, and the low RSI suggests the stock is oversold, potentially leading to a short-term price increase.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100