Top 3 Health Care Stocks That Are Set To Fly This Quarter
Portfolio Pulse from Avi Kapoor
The article highlights three oversold health care stocks with RSI values near or below 30, indicating potential buying opportunities. The stocks mentioned are BIMI Holdings Inc (NASDAQ:BIMI), Edwards Lifesciences Corp (NYSE:EW), and Merck & Co Inc (NYSE:MRK).
August 01, 2024 | 1:16 pm
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POSITIVE IMPACT
Merck reported better-than-expected Q2 earnings and sales, with quarterly sales of $16.1 billion and adjusted EPS of $2.28. Despite this, the stock fell around 12% over the past month. RSI value is 28.20.
Despite the recent decline in stock price, Merck's strong Q2 earnings and sales performance are positive indicators. The low RSI value suggests the stock is oversold, presenting a potential buying opportunity.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
BIMI Holdings Inc received a delinquency compliance alert notice from Nasdaq, causing its stock to fall around 68% over the past five days. The stock has a 52-week low of $0.24 and an RSI value of 24.62.
The receipt of a delinquency compliance alert notice from Nasdaq is a significant negative event, leading to a sharp decline in stock price. The low RSI value indicates the stock is oversold, but the compliance issue adds uncertainty.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Edwards Lifesciences reported worse-than-expected Q2 sales and issued weak Q3 guidance. The stock fell around 30% over the past month and has a 52-week low of $58.93. RSI value is 22.55.
The worse-than-expected Q2 sales and weak Q3 guidance are significant negative factors, causing a substantial decline in stock price. The low RSI value indicates the stock is oversold, but the poor financial performance adds risk.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 100