October 29, 2024

Top 3 Tech Care Stocks That May Keep You Up At Night This Quarter

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As of Oct. 29, 2024, three stocks in the information technology sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

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 overbought when the RSI is above 70, according to Benzinga Pro.

Here’s the latest list of major overbought players in this sector.

F5 Inc FFIV

On Oct. 28, F5 reported better-than-expected fourth-quarter financial results and approved an additional $1 billion buyback program.. The company’s stock gained around 1% over the past five days and has a 52-week high of $224.47.
RSI Value: 79.75
FFIV Price Action: Shares of F5 gained 0.7% to close at $218.36 on Monday.

MicroStrategy Inc MSTR

On Oct. 18, Benchmark maintained a Buy rating on the stock and raised its price target from $215 to $245. The company’s stock gained around 51% over the past month and has a 52-week high of $259.50.
RSI Value: 82.33
MSTR Price Action: Shares of MicroStrategy rose 9% to close at $255.34 on Monday.

Terawulf Inc WULF

On Oct. 23, TeraWulf said its Board of Directors authorized a $200 million share repurchase program and announced a proposed private offering of $350 million of convertible notes. The company’s stock gained around 46% over the past month and has a 52-week high of $7.28.
RSI Value: 77.62
WULF Price Action: Shares of Terawulf gained 7.4% to close at $6.85 on Monday.

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