Top 3 Health Care Stocks That Could Blast Off In September
Portfolio Pulse from Avi Kapoor
The article highlights three oversold healthcare stocks with potential for growth: Scilex Holding Co (SCLX), Patterson Companies, Inc. (PDCO), and AMN Healthcare Services, Inc. (AMN). These stocks have RSI values near or below 30, indicating they are oversold and may present buying opportunities.
September 10, 2024 | 11:27 am
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POSITIVE IMPACT
AMN Healthcare issued Q3 revenue guidance below estimates, but made progress in strengthening market position. The stock fell 13% recently, with an RSI of 27.11, indicating it is oversold.
Despite lower revenue guidance, the company's strategic progress and oversold RSI suggest potential for a rebound.
CONFIDENCE 88
IMPORTANCE 65
RELEVANCE 75
POSITIVE IMPACT
Scilex Holding Co received FDA approval for precision dosing for GLOPERBA, but its stock has fallen 23% over the past month, reaching a 52-week low. With an RSI of 27.36, it is considered oversold.
The FDA approval is a positive development, but the stock's significant decline and low RSI suggest it is oversold, indicating a potential rebound.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Patterson Companies reported a 2.2% decline in Q1 net sales, impacted by a cybersecurity attack and lower sales in certain segments. The stock is down 15% this month with an RSI of 26.32.
The decline in sales and stock price, along with a low RSI, suggests the stock is oversold. However, the impact of the cyber attack adds uncertainty.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70