Top 4 Tech Stocks That May Explode This Month

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.

SentinelOne Inc (NYSE:S)

• On May 30, SentinelOne reported quarterly losses of 23 cents per share, which missed the analyst consensus estimate of losses of 5 cents. Quarterly sales came in at $186.4 million which beat the analyst consensus estimate of $181.09 million. "We delivered an extraordinary 40% revenue growth and our first ever quarter of positive free cash flow, a significant milestone in our growth journey," said Tomer Weingarten, CEO of SentinelOne. The company's stock fell around 20% over the past month and has a 52-week low of $13.62.
• RSI Value: 27.92
• S Price Action: Shares of SentinelOne fell 0.6% to close at $17.24 on Thursday.
• Benzinga Pro's real-time newsfeed alerted to latest SentinelOne news.

Nutanix Inc (NASDAQ:NTNX)    

• On May 29, Nutanix posted better-than-expected earnings for its third quarter. "We delivered solid third quarter results reflecting disciplined execution and the strength of our business model," said Rajiv Ramaswami, President and CEO of Nutanix. The company's stock fell around 20% over the past month. It has a 52-week low of $26.47.
• RSI Value: 29.77
• NTNX Price Action: Shares of Nutanix fell 1.9% to close at $52.34 on Thursday.
• Benzinga Pro's charting tool helped identify the trend in NTNX stock.

Snowflake Inc (NYSE:SNOW)

• On May 22, Snowflake reported mixed financial results for the first quarter. “Our core business is very strong. Our AI products, now generally available, are generating strong customer interest. They will help our customers deliver effective and efficient AI-powered experiences faster than ever,” said Sridhar Ramaswamy, CEO of Snowflake. The company's stock fell around 17% over the past month and has a 52-week low of $128.41.
• RSI Value: 25.86
• SNOW Price Action: Shares of Snowflake fell 1.7% to close at $132.04 on Thursday.
• Benzinga Pro's signals feature notified of a potential breakout in Snowflake’s shares.

Five9 Inc (NASDAQ:FIVN)

• On May 2, Five9 company reported better-than-expected first-quarter financial results and raised its FY24 adjusted EPS guidance. “We are pleased to report strong first quarter results with subscription revenue growing 20% year-over-year and adjusted EBITDA margin of 15%, helping drive robust LTM operating cash flow of $128 million,” said Mike Burkland, Chairman and CEO, Five9. The company's shares lost around 23% over the past month. The company's 52-week low is $41.79.
• RSI Value: 23.32
• FIVN Price Action: Shares of Five9 rose 3.5% to close at $43.61 on Thursday.
• Benzinga Pro's earnings calendar was used to track FIVN’s upcoming earnings report.

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