Top 3 Tech Stocks Which Could Rescue Your Portfolio This Quarter
Portfolio Pulse from Avi Kapoor
The article highlights three oversold tech stocks with potential for recovery: Ouster Inc (OUST), Smith Micro Software Inc (SMSI), and 8×8 Inc (EGHT). These companies have recently reported worse-than-expected financial results, leading to significant stock price declines. However, their low RSI values suggest they may be undervalued, presenting potential buying opportunities.
August 20, 2024 | 12:37 pm
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POSITIVE IMPACT
8×8 Inc reported weak Q1 results and cut FY25 guidance, causing a 44% stock drop. However, a low RSI of 29.48 and potential breakout signals suggest the stock may be undervalued.
8×8's stock has declined due to poor financial performance and guidance cuts. However, its low RSI and potential breakout signals indicate it may be oversold, presenting a buying opportunity.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Ouster Inc reported disappointing Q2 sales and issued weak Q3 guidance, causing a 45% stock drop. Despite this, the company shows strong gross margin and software sales growth, with a low RSI of 28.96 indicating potential undervaluation.
Ouster's stock has significantly declined due to poor financial results, but its low RSI suggests it may be oversold. The company's focus on software solutions and strong gross margin could lead to a recovery.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Smith Micro Software reported poor Q2 results, leading to a 64% stock decline. Despite this, the launch of new products and cost reduction initiatives, along with a low RSI of 19.79, indicate potential for recovery.
Smith Micro's stock has plummeted due to disappointing financials, but its low RSI and strategic initiatives could drive a rebound. The company's focus on new product launches and cost reductions is promising.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100