Why Cinemark, Liberty SiriusXM And Other Oversold Majors In The Communication Services Sector Look Promising - Cinemark Hldgs (NYSE:CNK), AST SpaceMobile (NASDAQ:ASTS)

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The most oversold stocks in the communication services 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.

Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.

The Liberty SiriusXM Group LSXMK

  • Liberty Media said Courtnee Chun, currently Chief Portfolio Officer, will transition to a Senior Advisor role effective January 3, 2023. The company’s stock has a 52-week low of $34.34 .
  • RSI Value: 29.68
  • LSXMK Price Action: Shares of Liberty SiriusXM rose 1.2% to settle at $39.02 on Wednesday.



PLDT Inc. PHI

  • PLDT’s stock dropped around 18% over the past month. The company’s stock has a 52-week low of $20.20.
  • RSI Value: 27.80
  • PHI Price Action: Shares of PLDT gained 9.2% to close at $22.66 on Wednesday and lost 2.4% in after-hours trading.



Cinemark Holdings, Inc. CNK

  • Benchmark maintained Cinemark with a Buy and lowered the price target from $22 to $17. The company’s stock has a 52-week low of $8.90.
  • RSI Value: 27.13
  • CNK Price Action: Shares of Cinemark Holdings fell 2.8% to close at $8.95 on Wednesday and gained 1.1% in after-hours trading.



The Marcus Corporation MCS

  • Marcus Hotels & Resorts. announced the sale of Skirvin Hilton for $36.75 million. The company’s 52-week low is $13.41.
  • RSI Value: 29.29
  • MCS Price Action: Shares of Marcus dropped 1% to close at $14.00 on Wednesday.



AST SpaceMobile, Inc. ASTS

  • AST SpaceMobile and NASA signed a joint agreement to improve spaceflight safety. The company has a 52-week low of $3.63.
  • RSI Value: 26.06
  • ASTS Price Action: Shares of AST SpaceMobile gained 2.5% to settle at $3.77 on Wednesday, and added 0.3% in the after-hours trading session.

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Image and article originally from www.benzinga.com. Read the original article here.