Top 5 Health Care Stocks That May Crash This Month
Portfolio Pulse from Avi Kapoor
Five health care stocks with high RSI values, indicating potential overbought conditions, may face a downturn. SOPHiA GENETICS (SOPH), Inovio Pharmaceuticals (INO), Oncternal Therapeutics (ONCT), Clearside Biomedical (CLSD), and IO Biotech (IOBT) have all seen significant price movements and are now showing RSI values above 70, which could signal a short-term pullback in their stock prices.
January 22, 2024 | 12:34 pm
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NEGATIVE IMPACT
Clearside Biomedical, reporting trial progress and a 31% monthly gain, has an RSI of 83.57, hinting at a possible price retraction.
CLSD's high RSI indicates an overbought condition, which typically leads to a sell-off as traders might consider the stock overvalued.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Inovio Pharmaceuticals, after a recent agreement and a 53% monthly gain, has an RSI of 80.75, potentially signaling a price drop.
INO's RSI above 80 suggests the stock might be overbought, increasing the likelihood of a short-term decline as the market corrects.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
IO Biotech, after dosing the first patient in a trial, shows an RSI of 78.35, suggesting a potential near-term price decline.
IOBT's RSI nearing 80 points to overbought territory, often leading to a price correction as investors might take profits.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Oncternal Therapeutics, enrolling patients in a study, has an RSI of 71.32, which could lead to a near-term price correction.
With an RSI just above 70, ONCT may experience a price correction as it is considered slightly overbought, prompting traders to sell.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
SOPHiA GENETICS, with a recent collaboration and a 14% gain over six months, shows an RSI of 87.10, indicating a potential pullback.
SOPH's high RSI value suggests the stock is overbought, which often precedes a price correction as traders may take profits.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90