Top 5 Health Care Stocks That May Fall Off A Cliff

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.

Aspira Women's Health Inc. AWH

• Aspira Women's Health announced a material transfer agreement with the University of Oxford for the procurement of serum samples to verify and validate the endometriosis blood test algorithms. The company’s stock has a 52-week high of $9.60. .
• RSI Value: 72.25
• AWH Price Action: Shares of Aspira Women's Health fell 18.3% to close at $4.90 on Tuesday.

Novo Integrated Sciences, Inc. NVOS

• Novo Integrated Sciences announced it received an Underwriting Clearance Notice for a $70 million coupon. The company’s stock has a 52-week high of $1.60.
• RSI Value: 76.26
• NVOS Price Action: Shares of Novo Integrated Sciences jumped 35.8% to close at $0.2920 on Tuesday.

IDEAYA Biosciences, Inc. IDYA

• Ideaya Biosciences announced the FDA Clearance of an investigational new drug application to initiate GSK-sponsored Phase 1/2 Trial to evaluate GSK101 (IDE705) in combination with niraparib for tumors with BRCA or other homologous recombination mutations. The company has a 52-week high of $30.25.
• RSI Value: 72.99
• IDYA Price Action: Shares of IDEAYA Biosciences fell 3.2% to close at $28.81 on Tuesday.

NeuroPace, Inc. NPCE

• Neuroplace reported better-than-expected second-quarter financial results. “I am pleased with the results from the second quarter and with the positive momentum in the business,” said Joel Becker, Chief Executive Officer of NeuroPace. “We are focused on closing the treatment gap for drug refractory epilepsy patients by increasing the availability and adoption of our RNS System, leveraging our partnership with DIXI Medical, and executing with operating discipline to manage and extend our cash runway.” The company’s 52-week high is $9.50.
• RSI Value: 78.26
• NPCE Price Action: Shares of NeuroPace fell 2.7% to close at $8.69 on Tuesday.

AN2 Therapeutics, Inc. ANTX

• AN2 Therapeutics posted a wider quarterly loss. "We’re pleased with the accelerated pace of enrollment in our pivotal Phase 2/3 study evaluating epetraborole for treatment-refractory MAC lung disease and believe we currently have sufficient patients in screening to initiate Phase 3 next month, immediately after we complete enrollment in the Phase 2 portion of the study. Continued momentum in the Asia-Pacific region coupled with the modifications we made to our clinical trial protocol had a positive impact on study enrollment," said Eric Easom, Co-Founder, President and Chief Executive Officer. The company has a 52-week high of $21.04.
• RSI Value: 73.15
• ANTX Price Action: Shares of AN2 Therapeutics fell 2.3% to settle at $14.90 on Tuesday.

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