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.

Arm Holdings PLC – ADR (NASDAQ:ARM)

• On Dec. 15, Goldman Sachs analyst James Schneider downgraded ARM Holdings from Neutral to Sell and lowered the price target from $160 to $120. The company's stock fell around 15% over the past month and has a 52-week low of $80.00.
• RSI Value: 27.3
• ARM Price Action: Shares of Arm Holdings rose 0.5% to close at $114.03 on Friday.
• Edge Stock Ratings: 16.74 Momentum score with Value at 4.20.

Crane NXT Co (NYSE:CXT)        

• On Dec. 15, Baird analyst Michael Halloran maintained Crane NXT with an Outperform rating and lowered the price target from $88 to $82. The company's stock fell around 14% over the past month and has a 52-week low of $41.54.
• RSI Value: 26.7
• CXT Price Action: Shares of Crane NXT rose 1.3% to close at $47.20 on Friday.
• Benzinga Pro’s charting tool helped identify the trend in CXT stock.

BlackBerry Ltd (NYSE:BB)

• On Dec. 18, BlackBerry reported third-quarter revenue of $141.8 million, beating analyst estimates of $137.4 million. The company reported adjusted earnings of 5 cents per share for the quarter, beating estimates of 4 cents per share, according to Benzinga Pro. "BlackBerry delivered revenue above the top end of the previously provided guidance range, which, coupled with ongoing cost discipline, helped the company achieve its strongest quarter of GAAP profitability in almost four years, along with increased operating cash flow," said John Giamatteo, CEO of BlackBerry. The company's stock fell around 13% over the past five days and has a 52-week low of $2.80.
• RSI Value: 24
• BB Price Action: Shares of BlackBerry fell 12.9% to close at $3.77 on Friday.
• Benzinga Pro’s signals feature notified of a potential breakout in BB shares.

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