Top 5 Health Care Stocks That May Collapse In November
Portfolio Pulse from Lisa Levin
Five health care stocks are considered overbought based on their RSI values, which may signal a potential short-term decline. OraSure Technologies (OSUR) reported positive quarterly results but saw a slight share price drop. POINT Biopharma (PNT) reported a net loss and is being acquired by Lilly, with a minor share price decrease. Natera (NTRA) partnered with Merck for oncology research, experiencing a small share price fall. Doximity (DOCS) exceeded financial expectations, yet shares closed lower. Hims & Hers Health (HIMS) reported strong sales and announced a share repurchase program, with shares also closing down.
November 17, 2023 | 1:33 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Doximity exceeded Q2 financial expectations but closed lower with an RSI of 70.05, suggesting overvaluation.
Strong financial results are typically good news, but the RSI just above 70 may indicate a near-term price correction.
CONFIDENCE 70
IMPORTANCE 65
RELEVANCE 75
NEGATIVE IMPACT
Hims & Hers reported strong sales and a share repurchase program, yet the RSI of 71.22 could mean shares are overbought.
The positive sales results and repurchase program are bullish signals, but the RSI indicates the stock may be overpriced in the short term.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Natera partnered with Merck for oncology research, but with an RSI of 71.60, shares might be overbought.
The partnership with Merck is a positive development, yet the RSI indicates the stock could be due for a downturn.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
OraSure Technologies reported positive quarterly results but has an RSI of 77.78, indicating it may be overbought.
Despite positive results, the high RSI typically suggests that the stock might be overvalued and could face a correction.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
POINT Biopharma reported a net loss and is being acquired by Lilly, with an RSI of 74.75.
The acquisition news is typically positive, but the high RSI and reported net loss may overshadow this and lead to a price decline.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90