The most overbought stocks in the information technology sector present an opportunity to go short on these overvalued companies.
RSI is a momentum indicator, which compares the strength of a stock on days when prices go up and days when prices go down. Compared to a stock’s price action, it can give traders a better understanding of how the stock is likely to perform in the short term. An asset is generally overbought when the RSI is above 70.
Here is the latest list of major overbought players in this sector.
Coupa software included coup
- Canaccord Genuity recently downgraded Coupa Software from Buy to Hold and reduced the price target from $100 to $81. in the company’s stock 52-week high of $166.21 ,
- RSI Value: 72.55
- Coupe Price Action: Shares of Coupa Software were up 0.2% on Tuesday at $78.58 and fell 0.1% in after-hours trading.
Agilisys, Inc. AGYS
- BTIG analyst recently upgraded Agilysys from Neutral to Buy. Company’s The stock is at a high of 52 weeks of $82.17.
- RSI Value: 73.37
- AGYS Price Action: Shares of Agilysys closed down 1.2% on Tuesday at $79.09.
Paysafe Limited PSFE
- Paysafe recently announced a 1-for-12 reverse stock split. Company has a 52 week high of $52.44.
- RSI Value: 75.54
- PSFE Price Action: Shares of PaySafe closed down 3.4% on Tuesday at $12.38.
cpi card group inc. PMTS
- CPI Card, last month, reported better than expected Its third quarter results. The company’s 52-week high is $37.47.
- RSI Value: 74.51
- PMTS Price Action: Shares of CPI Card Group closed at $35.11 on Tuesday and rose 2% in after-hours trading.
Luna Innovations Incorporated luna
- Luna recently won a major contract for levee monitoring. company 52 week high of $9.69.
- RSI Value: 71.02
- Luna Price Action: Shares of Luna Innovations fell 0.3% to $8.85 on Tuesday.