Top Oversold Tech Stocks to Watch for Potential Gains in May
Top 3 Tech Stocks That Could Lead To Your Biggest Gains In May
Image: Benzinga
Investors are eyeing three oversold stocks in the technology sector that may present buying opportunities. GDS Holdings, Trimble Inc, and Ubiquiti Inc have recently reported financial results, with RSI values indicating they are oversold, making them potential candidates for recovery.
- 01GDS Holdings Ltd has an RSI of 29.2 and reported strong first-quarter results with net new bookings of around 200MW.
- 02Trimble Inc's RSI is at 28.7, with record annualized recurring revenue of $2.435 billion reported in the first quarter.
- 03Ubiquiti Inc has an RSI of 28.2 and has seen a significant stock drop of around 40% over the past month.
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The technology sector is seeing opportunities with several oversold stocks that may lead to potential gains. GDS Holdings Ltd (NASDAQ:GDS) reported strong first-quarter results with a net booking of approximately 200MW, despite its stock falling 23% over the past month. The company's RSI stands at 29.2, indicating it is oversold. Similarly, Trimble Inc (NASDAQ:TRMB) announced record annualized recurring revenue of $2.435 billion, but its stock has dropped 18% recently, with an RSI of 28.7. Ubiquiti Inc (NYSE:UI) has faced a significant decline of 40% in its stock price, with an RSI of 28.2, following disappointing third-quarter results. These companies are positioned in the AI infrastructure space, suggesting a potential for recovery as demand increases.
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