5 Tech And Telecom Stocks That Are Flying - And May Collapse

The most overbought stocks in the communication services sector presents an opportunity to go short on these overvalued 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 overbought when the RSI is above 70.

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

Gravity Co., Ltd. (NASDAQ:GRVY)

• Gravity Co, during November, posted Q3 earnings of $1.62 per share. The company’s stock has a 52-week high of $64.80 .
• RSI Value: 70.32
• GRVY Price Action: Shares of Gravity fell 0.3% to settle at $49.58 on Thursday.

Grupo Televisa, S.A.B. (NYSE:TV)

• The company’s shares jumped 24% over the past month. The company’s stock has a 52-week high of $11.90.
• RSI Value: 70.41
• TV Price Action: Shares of Grupo Televisa, S.A.B. dropped 0.4% to close at $5.72 on Thursday and lost 2.1% in after-hours trading.

América Móvil, S.A.B. de C.V. (NYSE:AMOV)

• The company’s stock jumped 14% over the prior six months. The company has a 52-week high of $22.57.
• RSI Value: 71.35
• AMOV Price Action: Shares of América Móvil fell 0.4% to close at $20.47 on Thursday.

NetEase, Inc. (NASDAQ:NTES)

• Tencent Holdings, NetEase, and miHoYo a scored a win s China granted publishing licenses to 88 online games. The company’s 52-week high is $108.77.
• RSI Value: 71.84
• NTES Price Action: Shares of NetEase rose 0.9% to close at $89.25 on Thursday and lost 0.2% in after-hours trading.

Entravision Communications Corporation (NYSE:EVC)

• Entravision announced the unexpected passing of Chairman and Chief Executive Officer Walter F. Ulloa on December 31, 2022. The company has a 52-week high of $6.80.
• RSI Value: 72.11
• EVC Price Action: Shares of Entravision Communications rose 0.9% to settle at $5.95 on Thursday and added 0.3% in after-hours trading.

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