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.

E W Scripps Co (NASDAQ:SSP)

• On May 7, E W Scripps posted upbeat results for the first quarter. Scripps President and CEO Adam Symson said, "We're moving through the second quarter with real momentum, fueled by progress toward our transformation goals, the ongoing successes with our Scripps Sports strategy and meaningful reductions in our leverage ratio. We are on track in the execution of our ambitious plans to improve company EBITDA by at least 30% over the next two years." The company's stock fell around 18% over the past month and has a 52-week low of $2.02.
• RSI Value: 29.9
• SSP Price Action: Shares of E W Scripps fell 8.6% to close at $3.09 on Wednesday.
• Edge Stock Ratings: 12.23 Momentum score with Value at 36.18.

Nexstar Media Group Inc (NASDAQ:NXST)    

• On May 7, the company posted upbeat quarterly earnings.. The company's stock fell around 14% over the past month and has a 52-week low of $164.00.
• RSI Value: 27
• NXST Price Action: Shares of Nexstar Media fell 3.4% to close at $173.41 on Wednesday.
• Benzinga Pro’s charting tool helped identify the trend in NXST stock.

Yalla Group Ltd – ADR (NYSE:YALA)

• On May 18, Yalla Group posted a decline in first-quarter adjusted EPS. “We delivered resilient first quarter results despite the shifting macro environment and the impact of Ramadan,” said Mr. Tao Yang, Founder, Chairman and CEO of Yalla. The company's stock fell around 22% over the past month and has a 52-week low of $5.23.
• RSI Value: 26.3
• YALA Price Action: Shares of Yalla Group fell 0.6% to close at $5.39 on Wednesday.
• Benzinga Pro’s charting tool helped identify the trend in YALA stock.

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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