Top 3 Health Care Stocks That May Crash This Quarter
Portfolio Pulse from Avi Kapoor
Three health care stocks, Harrow Inc (HROW), Longboard Pharmaceuticals Inc (LBPH), and Eli Lilly And Co (LLY), are currently overbought according to their RSI values, indicating potential short-term price declines. Despite recent gains, investors should be cautious.
July 03, 2024 | 1:41 pm
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NEGATIVE IMPACT
Harrow Inc (HROW) has an RSI value of 75.75, indicating it is overbought. Despite a recent price target increase by Craig-Hallum and a 22% gain over the past month, the stock fell 1% to $20.85 on Tuesday.
The high RSI value suggests that HROW is overbought, which typically precedes a price decline. The recent 1% drop supports this potential trend.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Longboard Pharmaceuticals Inc (LBPH) has an RSI value of 84.20, indicating it is overbought. The stock gained 47% over the past five days following FDA breakthrough therapy designation for bexicaserin, closing at $30.74 on Tuesday.
The extremely high RSI value suggests that LBPH is significantly overbought, which often leads to a price correction. The recent surge in price heightens this risk.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Eli Lilly And Co (LLY) has an RSI value of 74.03, indicating it is overbought. The stock gained 10% over the past month following FDA approval of its Alzheimer's treatment, closing at $906.71 on Tuesday.
The high RSI value suggests that LLY is overbought, which typically precedes a price decline. The recent gains following FDA approval may not be sustainable in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100