The most overbought stocks in the health care sector presents an opportunity to go short on these overvalued companies.
The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70.
Here’s the latest list of major overbought players in this sector.
Structure Therapeutics Inc. (NASDAQ: GPCR)
Structure Therapeutics recently released results from the Phase 1b multiple ascending dose (MAD) study of GSBR-1290 in healthy, overweight, or obese individuals. The company also announced a private placement of 21.6 million shares and 2.4 ...
Related tickers: HSTM, ICPT, NXGN, OLK, GPCR.
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