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, according to Benzinga Pro.



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



<h3>iHeartMedia Inc (NASDAQ:IHRT)</h3>



<ul>
<li>On Jan. 9, Goldman Sachs analyst Stephen Laws downgraded iHeartMedia from Neutral to Sell and lowered the price target from $4 to $3.5. The company's stock fell around 20% over the past month and has a 52-week low of $0.95.</li>



<li>RSI Value: 29.6</li>



<li>IHRT Price Action: Shares of iHeartMedia fell 5.8% to close at $3.39 on Tuesday.</li>



<li>Edge Stock Ratings: 90.64 Momentum score.</li>
</ul>



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<h3>Reddit Inc (NYSE:RDDT) </h3>



<ul>
<li>On Jan. 23, Guggenheim analyst Michael Morris reiterated Reddit with a Buy and maintained a $245 price target. The company's stock fell around 13% over the past five days and has a 52-week low of $79.75.</li>



<li>RSI Value: 28.8</li>



<li>RDDT Price Action: Shares of Reddit fell 8.1% to close at $196.30 on Tuesday.</li>



<li>Benzinga Pro’s charting tool helped identify the trend in RDDT stock. </li>
</ul>



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<h3>Charter Communications Inc (NASDAQ:CHTR)</h3>



<ul>
<li>On Jan. 13, Wells Fargo downgraded the stock from Equal-Weight to Underweight rating and lowered the price target from $240 to $180. The company's stock fell around 12% over the past month and has a 52-week low of $182.54.</li>



<li>RSI Value: 27.8</li>



<li>CHTR Price Action: Shares of Charter Communications fell 5.6% to close at $182.99 on Tuesday.</li>



<li>Benzinga Pro’s signals feature notified of a potential breakout in CHTR shares. </li>
</ul>



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Learn more about BZ Edge Rankings—click to see scores for other stocks in the sector and see how they compare.



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RDDT

IHRT

CHTR

The communication services sector shows potential for investment in oversold stocks. Key players include iHeartMedia (IHRT), downgraded by Goldman Sachs with an RSI of 29.6, and a recent price drop to $3.39. Reddit (RDDT) has an RSI of 28.8, with shares closing at $196.30 after a downgrade. Charter Communications (CHTR) has an RSI of 27.8, closing at $182.99 after a downgrade by Wells Fargo. These stocks may present buying opportunities for investors looking to enhance their portfolios this quarter.

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