Top 5 Health Care Stocks That May Collapse This Quarter
Portfolio Pulse from Lisa Levin
The article lists five health care stocks that are considered overbought and may collapse this quarter. These include Sientra, Inc. (SIEN), CareDx, Inc (CDNA), COMPASS Pathways plc (CMPS), Minerva Neurosciences, Inc. (NERV), and Cardinal Health, Inc. (CAH). The Relative Strength Index (RSI) of these stocks is above 70, indicating they are overbought.
July 10, 2023 | 12:33 pm
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NEGATIVE IMPACT
Cardinal Health inked an agreement with Tivic Health Systems for product distribution and its stock fell 0.3% to settle at $93.97 on Friday. Its RSI value is 72.28.
The RSI value of Cardinal Health is above 70, indicating it is overbought and may face a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
CareDx reported worse-than-expected Q1 sales and its stock gained 20.6% to close at $10.09 on Friday. Its RSI value is 70.04.
The RSI value of CareDx is above 70, indicating it is overbought and may face a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
COMPASS Pathways secured a $50 million term loan facility and its stock rose 5.8% to close at $9.88 on Friday. Its RSI value is 74.15.
The RSI value of COMPASS Pathways is above 70, indicating it is overbought and may face a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Minerva Neurosciences announced a $20 million private placement and its stock rose 4.6% to close at $10.71 on Friday. Its RSI value is 73.18.
The RSI value of Minerva Neurosciences is above 70, indicating it is overbought and may face a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Sientra recently announced FDA clearance for its AlloX2 Pro Tissue Expander and its stock rose 16.3% to close at $3.57 on Friday. Its RSI value is 71.90.
The RSI value of Sientra is above 70, indicating it is overbought and may face a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100