As of Feb. 5, 2025, two 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.
Orthofix Medical Inc. OFIX
- Orthofix Medical announced that it will release its fourth quarter and full-year 2024 financial results on Tuesday, Feb. 25, 2025 before the opening bell. The company has a 52-week high of $20.73.
- RSI Value: 77.9
- OFIX Price Action: Shares of Orthofix Medical gained 3.1% to close at $18.76 on Tuesday.
Globus Medical Inc GMED
- On Feb. 3, Interactive Brokers reported a year-over-year increase in daily average revenue trades for January. The company's stock gained around 10% over the past month and has a 52-week high of $94.93.
- RSI Value: 74
- GMED Price Action: Shares of Globus Medical fell 0.4% to close at $92.18 on Tuesday.
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