7 Oversold Stocks That Could Be Setting Up for a Rally

Technology stocks are taking a dip and are entering oversold territory. Here are seven companies to keep an eye on. ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ Unsubscribe

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The recent dip in technology stocks is the latest example of the Whack-a-Mole stock market. Growth-oriented traders and investors have had to move quickly to capture gains in stocks and sectors.  

For example, in January, investors bought stocks because they believed we’d already have one or two rate cuts. Then, stocks sold off over concerns that the first cut would be in 2025.  

Tech stocks, and particularly AI stocks, were supposed to be safe havens. But now, talk of an AI bubble is making the Magnificent 7 stocks look significantly less magnificent.  

Plus, it’s an election year. No matter how you feel about a particular candidate or platform, the outcome for public policy is another area of uncertainty for the economy and stocks. 

And investors hate uncertainty.  

But this is what investing rules are for. Paying attention to tried-and-true fundamental and technical indicators can help guide you to undervalued stocks.

One commonly used technical indicator is the Relative Strength Index (RSI). This metric measures a stock’s momentum and helps investors understand when a stock may be undervalued or overvalued. A reading of 30 or below indicates that a stock may be oversold.  

MarketBeat provides two free tools that investors can use to find oversold stocks using the RSI. One way is to look at the list of Top Oversold Stocks. This generates a list of stocks that have hit an RSI of 30 in the last 30 days. Another option is to use our Stock Screener tool and filter for stocks that currently trade at a specific RSI that you select.  

In this special presentation, we use a combination of those features to find seven oversold stocks that have the potential to rally sharply in the back half of the year. 

View the 7 Oversold Stocks That Could be Setting up for a Rally

Will
InsiderTrades.com

 
 
 
 
 
 

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