Opportunity arises in the health care sector as oversold stocks offer a chance to invest in undervalued companies.
One key metric to consider is the Relative Strength Index (RSI), a momentum indicator that compares a stock’s strength on up days versus down days. With values below 30 signaling oversold conditions, investors can gauge short-term performance more effectively.
Below is a snapshot of three major oversold players in the health care sector:
Exploring Progyny Inc (PGNY)
- Progyny Inc recently faced a setback when a client opted to terminate its services agreement, leading to a stock plunge of approximately 32% over five days, hitting a 52-week low of $13.93.
- RSI Value: 26.50
- PGNY Price Action: Progyny’s shares inched up by 1% to close at $16.62 on the last trading day.
Analyzing Indivior PLC (INDV)
- Indivior PLC shared updates on Aelis Farma’s Phase 2B study, affecting its stock performance. The company witnessed a 2.1% drop to finish at $9.48, nearing its 52-week low of $9.14.
- RSI Value: 25.92
- INDV Price Action: Indivior’s stock saw a minor decline on the last trading day.
Evaluating Moderna Inc (MRNA)
- Moderna Inc recently gained Health Canada’s approval for its vaccine, SPIKEVAX, combating COVID-19. Despite this, the stock witnessed a 20% decrease over the past month, reaching a 52-week low of $62.55.
- RSI Value: 28.17
- MRNA Price Action: Moderna’s shares closed lower on the last trading day.
Each company’s RSI portrays oversold conditions, attracting investors looking for potential opportunities in the health care sector.
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