The following stocks (NASDAQ:ZNGA, NASDAQ:MLNX and NASDAQ:CRUS) are oversold as their Relative Strength index (RSI) is below 30. Indeed, the RSI is one of the most popular technical indicators and is computed on the basis of the speed and direction of a stock’s price movement, generally in a 14-day window. The RSI value will always move between 0 and 100; the value will be 0 if the stock falls on all 14 days, and 100, if the price moves up on all the days. This implies that the RSI can also be used to identify the overbought/oversold levels. Most technical analysts consider the RSI value above 70 as ‘overbought zone’ and below 30 as ‘oversold zone’.
Zynga Inc (NASDAQ:ZNGA)(Trend analysis) relative strength index stands at 25.68. Zynga Inc (NASDAQ:ZNGA) stock is currently trading 18.96% below its 52-week-high, 20.45% above its 52-week-low. The 1-year stock price history is in the range of $2.2 – $3.27. Zynga Inc (ZNGA) has a price to book ratio of 1.34 versus Technology sector average of 2.65. Zynga Inc is currently valued at $2.44 billion. The stock has a 50-day moving average of $2.94 and a 200-day moving average of $2.7.
There are currently nineteen analysts that cover Zynga Inc stock. Of those nineteen, four have a Buy rating, twelve have a Hold rating and three have a Sell rating. On a consensus basis this yields to a Hold rating. The consensus target price stands at $3.31.
The stock closed last trading session at $2.65, down by -3.28%.
Mellanox Technologies Ltd (NASDAQ:MLNX)(Trend analysis) relative strength index is at the level of 25.04. The company’s shares were traded at $44.63, down by -2.02%, with a volume of 2,615,783 shares against an average volume for the last 3 months of 544,892. This represents a volume multiple of 4.8.
Mellanox Technologies Ltd (MLNX) current short interest stands at 2.08 million shares. It has decreased by 16% from the same period of last month. Around 6% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.88 million shares, the number of days required to cover the short positions stand at 2.4 days.
A recent stock analyst activity consisted of Barclays reiterating their Overweight stance on April 22. Barclays increased their price target on MLNX from $57 to $58.
Cirrus Logic Inc (NASDAQ:CRUS)(Trend analysis) relative strength index is evolving around the 28 level. The stock closed last trading session at $30.74, down by -4.06%, with a volume of 2,201,578 shares compared to an average volume for the last 3 months of 1,142,260. The year-to-date performance of the stock stands at 4.45%.
Cirrus Logic Inc (CRUS) current short interest stands at 3.32 million shares. It has increased by 17% from the same period of last month. Around 6% of the company’s shares, which are float, are short sold. With a 10-days average volume of 1.18 million shares, the number of days required to cover the short positions stand at 2.9 days.