Top 4 Tech Stocks That That You May Want To Dump In March

The most overbought stocks in the information technology 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.

Insight Enterprises, Inc. (NASDAQ:NSIT)

• Insight Enterprises reported better-than-expected Q4 adjusted EPS. "It is my pleasure to report that we ended 2022 with an outstanding fourth quarter that topped off record setting financial results for 2022," stated Joyce Mullen, President and Chief Executive Officer. The company’s stock has a 52-week high of $139.30 .
• RSI Value: 70.55
• NSIT Price Action: Shares of Insight Enterprises dropped 1.6% to close at $136.19 on Wednesday.

Cvent Holding Corp. (NASDAQ:CVT)

• Cvent announced it will be acquired by Blackstone for $8.50 per share. The company’s stock has a 52-week high of $8.38.
• RSI Value: 71.55
• CVT Price Action: Shares of Cvent Holding fell 0.2% to close at $8.34 on Wednesday.

Arista Networks, Inc. (NYSE:ANET)

• Arista Networks reported better-than-expected Q1 results and issued strong Q1 guidance. The company has a 52-week high of $154.02.
• RSI Value: 72.09
• ANET Price Action: Shares of Arista Networks gained 0.4% to close at $153.80 on Wednesday.

Vertex, Inc. (NASDAQ:VERX)

• Vertex reported better-than-expected Q4 results. David DeStefano, Chief Executive Officer, said, “The fourth quarter wrapped up a very strong year for Vertex. Revenue growth accelerated, profitability was strong, and we delivered positive free cash flow.” The company’s 52-week high is $19.31.
• RSI Value: 71.22
• VERX Price Action: Shares of Vertex rose 0.4% to close at $18.53 on Wednesday.

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