Top 3 Tech Stocks That May Rocket Higher This Quarter

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.

NVE Corp NVEC

• On Jan. 22, NVE reported a year-over-year decrease in third-quarter financial results. “We are pleased to report solid earnings for the quarter and first nine months of the fiscal year, despite challenging industry conditions,” said NVE President and Chief Executive Officer Daniel A. Baker, Ph.D. The company’ stock fell around 12% over the past five days and has a 52-week low of $68.73.
• RSI Value: 27.6                          
• NVEC Price Action: Shares of NVE dipped 12.3% to close at $71.92 on Thursday.
• Benzinga Pro’s real-time newsfeed alerted to latest NVEC news.

Clear Secure Inc YOU     

• On Dec. 16, 2024, Needham analyst Joshua Reilly reiterated Clear Secure with a Buy and maintained a $45 price target. The company’s stock fell around 12% over the past month and has a 52-week low of $16.05.
• RSI Value: 25.4
• YOU Price Action: Shares of Clear Secure fell 2.2% to close at $24.07 on Thursday.
• Benzinga Pro’s charting tool helped identify the trend in YOU stock.

Progress Software Corp PRGS

• On Jan. 21, Progress Software issued first-quarter EPS guidance below estimates. “2024 was a strong year for Progress as we continue to execute on our long-term strategy to invest and innovate, acquire and integrate, and drive customer success to deliver Total Growth,” said Yogesh Gupta, CEO at Progress. The company’s stock fell around 18% over the past month and has a 52-week low of $48.00.
• RSI Value: 15.9
• PRGS Price Action: Shares of Progress Software fell 5.5% to close at $54.12 on Thursday.
• Benzinga Pro’s signals feature notified of a potential breakout in PRGS shares.

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