Top 5 Health Care Stocks That May Crash In Q3

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.

TC Biopharm (Holdings) Plc TCBP

• TC BioPharm regained compliance with the Nasdaq Stock Market Listing Rule 5550(b) which will maintain the listing of the Company's American depositary shares on the Nasdaq Global Select Market. The company’s stock has a 52-week high of $22.00. .
• RSI Value: 70.23
• TCBP Price Action: Shares of TC Biopharm fell 4.9% to close at $0.78 on Friday.

Biodesix, Inc. BDSX

• Biodesix announced publication of the ORACLE clinical utility study with the primary endpoint demonstrating that the Nodify XL2 Test reduced unnecessary invasive procedures on benign lung nodules. The company’s stock has a 52-week high of $2.89.
• RSI Value: 71.03
• BDSX Price Action: Shares of Biodesix fell 2.5% to close at $1.58 on Friday.

Revolution Medicines, Inc. RVMD

• Revolution Medicines announced a definitive agreement to acquire EQRx in an all-stock transaction. The company has a 52-week high of $33.19.
• RSI Value: 70.13
• RVMD Price Action: Shares of Revolution Medicines fell 2.1% to close at $31.21 on Friday.

Frequency Therapeutics, Inc. FREQ

• Frequency Therapeutics agreed to merge with Korro Bio in an all- stock transaction. The company’s 52-week high is $5.59.
• RSI Value: 70.63
• FREQ Price Action: Shares of Frequency Therapeutics jumped 10.4% to close at $0.7250 on Friday.

DICE Therapeutics, Inc. DICE

• Eli Lilly And Co agreed to acquire DICE Therapeutics, a biopharmaceutical company that leverages its proprietary DELSCAPE technology platform to develop oral therapeutic candidates for immunology indications. The company has a 52-week high of $47.90.
• RSI Value: 80.28
• DICE Price Action: Shares of DICE Therapeutics fell 0.3% to settle at $47.31 on Friday.

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