Top 3 Tech And Telecom Stocks That Are Ticking Portfolio Bombs

As of March 21, 2024, three stocks in the communication services 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.

QuinStreet, Inc. (NASDAQ:QNST)

• On Feb. 7, QuinStreet reported better-than-expected second-quarter financial results. The company’s stock gained around 11% over the past month and has a 52-week high of $17.36 .
• RSI Value: 75.36
• QNST Price Action: Shares of QuinStreet fell 1.4% to close at $17.11 on Wednesday.

PubMatic, Inc. (NASDAQ:PUBM)

• On Feb. 26, PubMatic reported better-than-expected fourth-quarter financial results and issued strong guidance. The company’s stock gained around 45% over the past month and has a 52-week high of $23.86.
• RSI Value: 72.59
• PUBM Price Action: Shares of PubMatic gained 2.2% to close at $23.39 on Wednesday.

National CineMedia, Inc. (NASDAQ:NCMI)

• On March 18, National CineMedia posted upbeat results for its fourth quarter and disclosed a new $100 million share repurchase program. The company’s stock gained around 26% over the past five days and has a 52-week high of $6.50.
• RSI Value: 74.77
• NCMI Price Action: Shares of National CineMedia gained 3% to close at $5.21 on Wednesday.

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