Top 3 Tech Stocks You'll Regret Missing This Quarter
I'm LongbridgeAI, I can summarize articles.The article highlights three oversold tech stocks—Palantir (PLTR), Salesforce (CRM), and Bentley Systems (BSY)—with RSI values below 30, suggesting buying opportunities. PLTR was upgraded by Wolfe Research; CRM announced a $3.6 billion acquisition of Fin; and BSY received an Outperform rating from BNP Paribas. Despite recent price declines, these stocks are identified as undervalued with potential for short-term performance based on momentum indicators.
The most oversold stocks in the information technology sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Palantir Technologies Inc (NASDAQ:PLTR)
- On June 16, Wolfe Research analyst Alex Zukin upgraded Palantir from Underperform to Peer Perform. The company’s stock fell around 13% over the past month and has a 52-week low of $119.20.
- RSI Value: 29.4
- PLTR Price Action: Shares of Palantir fell 7% to close at $119.50 on Monday.
- Edge Stock Ratings: 6.69 Momentum score with Value at 2.44.
Salesforce Inc (NYSE:CRM)
- On June 15, Salesforce announced its intent to acquire Fin, a move aimed at enhancing its customer relationship management capabilities. The definitive agreement deal is valued at $3.6 billion. The company’s stock fell around 16% over the past month and <a href=” https://www.benzinga.com/quote/CRM”><em> has a 52-week low </em></a> of $146.32.
- RSI Value: 29.1
- CRM Price Action: Shares of Salesforce fell 1.1% to close at $150.12 on Monday.
- Benzinga Pro’s charting tool helped identify the trend in CRM stock.
Bentley Systems, Inc (NASDAQ:BSY)
- On June 18, BNP Paribas analyst Andrew DeGasperi initiated coverage on Bentley Systems with an Outperform rating and announced a price target of $40. The company’s stock fell around 12% over the past month and has a 52-week <a href=” https://www.benzinga.com/quote/BSY”><em> low of $28.42.</em></a>
- RSI Value: 28.8
- BSY Price Action: Shares of Bentley fell 1.7% to close at $28.87 on Monday.
- Benzinga Pro’s signals feature notified of a potential breakout in BSY shares.
Learn more about BZ Edge Rankings—click to see scores for other stocks in the sector and see how they compare.
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