Top 3 Health Care Stocks That May Collapse In Q2

As of April 12, 2024, three stocks in the health care sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

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, according to Benzinga Pro.

Here’s the latest list of major overbought players in this sector.

OncoCyte Corporation OCX

• On April 11, Oncocyte announced a $15.8 million private placement of securities priced at-the-market under Nasdaq rules. The company’s stock gained around 4% over the past five days and has a 52-week high of $6.80 .
• RSI Value: 73.87
• OCX Price Action: Shares of OncoCyte rose 1.2% to close at $2.9650 on Thursday.

Curis, Inc. CRIS

• On April 5, Curis reported inducement grants under NASDAQ Listing Rule 5635(c)(4). The company’s stock gained around 59% over the past month and has a 52-week high of $17.49.
• RSI Value: 75.26
• CRIS Price Action: Shares of Curis gained 4.1% to close at $15.90 on Thursday.

Revolution Medicines, Inc. RVMD

• On April 9, the company announced the publication of a research paper on RMC-6236 in Cancer Discovery. The company’s stock gained around 25% over the past five days and has a 52-week high of $38.73.
• RSI Value: 72.27
• RVMD Price Action: Shares of Revolution Medicines gained 2.5% to close at $37.41 on Thursday.

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