Top 5 Health Care Stocks That May Collapse In July
Portfolio Pulse from Lisa Levin
The article lists five health care stocks that are considered overbought and may collapse in July. These include Nanobiotix S.A. (NBTX), Evelo Biosciences, Inc. (EVLO), Repligen Corporation (RGEN), Tandem Diabetes Care, Inc. (TNDM), and Zoetis Inc. (ZTS). The stocks are considered overbought based on their Relative Strength Index (RSI) values, which are all above 70.
July 24, 2023 | 12:27 pm
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NEGATIVE IMPACT
Evelo Biosciences' stock is considered overbought with an RSI value of 84.15. The company recently terminated its sublease agreement with Bio-Rad Laboratories Inc.
The high RSI value suggests that the stock is overbought and may face a price correction. The termination of the sublease agreement could have financial implications for the company.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Nanobiotix's stock is considered overbought with an RSI value of 82.58. The company recently announced the first patient injection in a Phase 1/2 study of NBTXR3 for advanced solid tumors.
The high RSI value indicates that the stock is overbought and may be due for a price correction. The recent announcement about the Phase 1/2 study could have contributed to the stock's overvaluation.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Repligen Corporation's stock is considered overbought with an RSI value of 74.03. The company recently reported first-quarter sales and acquired FlexBiosys Inc.
The high RSI value indicates that the stock is overbought and may be due for a price correction. The recent acquisition and sales report could have contributed to the stock's overvaluation.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Tandem Diabetes Care's stock is considered overbought with an RSI value of 70.21. The company recently received FDA approval for the Tandem Mobi insulin pump.
The high RSI value suggests that the stock is overbought and may face a price correction. The recent FDA approval could have contributed to the stock's overvaluation.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Zoetis Inc.'s stock is considered overbought with an RSI value of 71.73. The company recently received FDA approval for Librela for the control of pain associated with osteoarthritis in dogs.
The high RSI value indicates that the stock is overbought and may be due for a price correction. The recent FDA approval could have contributed to the stock's overvaluation.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100