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Three little tech stocks cross into overbought territory

Jul. 06, 2017 3:14 PM ETOminto, Inc. (OMNT) StockCMTL, PCO, OMNTBy: Brandy Betz, SA News Editor2 Comments
  • Three little tech stocks that could breach the 70 level of the Relative Strength Index, which puts the stocks into overbought territory.
  • E-commerce platform Ominto (OTCPK:OMNT) has an RSI level of 76 and shares have quadrupled year-to-date.
  • Ominto was upped to Nasdaq in March and shares rose 361% by month’s end but have fallen back about halfway from those heights.
  • Shares of IP firm Pendrell (NASDAQ:PCO) are up 21% since last month and sit at an RSI level of 74.
  • Pendrell head Craig McCaw has a history of leading companies towards acquisition as a co-founder of both Nextel Partners and Clearwire, respectively acquired in 2006 and 2013, and founder of McCaw Cellular Communications, acquired in 1994.
  • Shares of electronic systems manufacturer Comtech Telecommunications (NASDAQ:CMTL) are up 61% year-to-date with an RSI level just over the overbought line.
  • Comtech has analyst coverage with 4 Buys, 2 Holds and an average price target of $20.
  • Source: Bloomberg
  • OMNT shares are down 3.23%.
  • PCO shares are down 0.27%.
  • CMTL shares are down 2.08%.

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