Top 3 Health Care Stocks That May Implode This Quarter
Portfolio Pulse from Lisa Levin
The article identifies three health care stocks that are considered overbought and may decline in the short term. These include Processa Pharmaceuticals, Inc. (PCSA), Acurx Pharmaceuticals, Inc. (ACXP), and Cardinal Health, Inc. (CAH). The Relative Strength Index (RSI) values for these stocks are 83.77, 88.63, and 71.70 respectively, indicating they are overbought as the RSI is above 70.
October 16, 2023 | 12:28 pm
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NEGATIVE IMPACT
Acurx Pharmaceuticals' stock has a 52-week high of $8.82 and an RSI of 88.63, indicating it is overbought and may decline.
The RSI is a momentum indicator that compares a stock's strength on days when prices go up to its strength on days when prices go down. An RSI above 70 typically indicates that a stock is overbought, which may lead to a price decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Cardinal Health's stock has a 52-week high of $95.45 and an RSI of 71.70, indicating it is overbought and may decline.
The RSI is a momentum indicator that compares a stock's strength on days when prices go up to its strength on days when prices go down. An RSI above 70 typically indicates that a stock is overbought, which may lead to a price decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Processa Pharmaceuticals' stock has jumped 33% over the past month and has an RSI of 83.77, indicating it is overbought and may decline.
The RSI is a momentum indicator that compares a stock's strength on days when prices go up to its strength on days when prices go down. An RSI above 70 typically indicates that a stock is overbought, which may lead to a price decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100