Top 3 Health Care Stocks That May Crash In August
Portfolio Pulse from Avi Kapoor
Three health care stocks, Cardinal Health Inc (CAH), Catalyst Pharmaceuticals Inc (CPRX), and Verona Pharma PLC (VRNA), are considered overbought with RSI values above 70. Despite recent gains, these stocks may face short-term price corrections.
August 14, 2024 | 12:35 pm
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NEGATIVE IMPACT
Cardinal Health Inc (CAH) posted strong quarterly results and saw a 9% gain over the past month. However, with an RSI of 72.55, the stock is considered overbought and may face a short-term price correction.
The RSI value of 72.55 indicates that CAH is overbought. Despite strong financial performance, the stock's recent gains suggest a potential short-term price correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Catalyst Pharmaceuticals Inc (CPRX) reported strong Q2 results and saw a 19% gain over the past five days. With an RSI of 73.73, the stock is overbought and may experience a short-term price correction.
The RSI value of 73.73 indicates that CPRX is overbought. Despite strong Q2 results, the stock's recent gains suggest a potential short-term price correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Verona Pharma PLC (VRNA) posted a narrower-than-expected quarterly loss and saw a 26% gain over the past five days. With an RSI of 71.22, the stock is overbought and may face a short-term price correction.
The RSI value of 71.22 indicates that VRNA is overbought. Despite a narrower-than-expected loss, the stock's recent gains suggest a potential short-term price correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100