Most overbought stocks in information technology industry can be dismissed

The most overbought stocks in the information technology industry present a chance to go short on these overvalued companies.

The RSI is a momentum indicator that monitors a stock's performance when prices go up and its strength decreases on days when prices go down. With a comparison of a stock's price action, it can give investors a better understanding of how a stock may perform in the short term. When the RSI is above 70, an asset is typically considered overbought.

The latest list of major overbought players in the industry.

SMTC price action: shares of Semtech rose 1.5% to close at $22.43 on Wednesday.

CMBM price action: Shares of Cambium Networks rose 8.7% on Wednesday to close at $17.38.