Top 2 Health Care Stocks That May Fall Off A Cliff This Month
Portfolio Pulse from Avi Kapoor
Two health care stocks, ImmunityBio Inc (IBRX) and Scholar Rock Holding Corp (SRRK), are currently overbought according to their RSI values, indicating potential short-term price declines. IBRX recently dosed its first patients in a clinical study, while SRRK announced a $300 million public offering.
October 25, 2024 | 12:22 pm
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NEGATIVE IMPACT
ImmunityBio Inc's stock is overbought with an RSI of 76.65, suggesting a potential short-term decline. The stock recently gained 21.7% after announcing the dosing of its first patients in a clinical study.
The RSI value of 76.65 indicates that IBRX is overbought, which often precedes a price decline. The recent 21.7% gain following a clinical study announcement may have contributed to this overbought status.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Scholar Rock Holding Corp's stock is overbought with an RSI of 70.14, indicating a potential short-term decline. The stock rose 237% over the past month, partly due to a $300 million public offering.
The RSI value of 70.14 suggests SRRK is overbought, which can lead to a price drop. The 237% increase in stock price, driven by a public offering, may have led to this overbought condition.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90