Unlocking Opportunity Amidst Oversold Health Care Stocks
Investors seeking untapped potential in the health care sector may find solace in the most oversold stocks, presenting a golden opportunity to dive into undervalued companies.
One key metric that sheds light on market sentiment is the Relative Strength Index (RSI), a momentum indicator that gauges a stock’s strength on days of price increases versus decreases. When the RSI dips below 30, a stock is often deemed oversold, hinting at a potential rebound.
Let’s delve into the latest major players in the health care realm that are trading at or near RSI levels of 30 or below.
Haemonetics Corporation
- Haemonetics recently surpassed earnings expectations, yet its stock witnessed a staggering 19% decline over the past month, hitting a 52-week low of $70.74.
- RSI Value: 25.47
- HAE Price Action: Despite the setback, Haemonetics shares managed to eke out a 1.1% gain, closing at $73.99 on the last trading day.
Immunitybio Inc
- ImmunityBio made headlines on August 6 with its groundbreaking study on ANKTIVA in combination with the AdHER2DC cancer vaccine for potential endometrial cancer treatment. The company’s stock endured a notable 38% decline in the past month, hitting a 52-week low of $1.25.
- RSI Value: 29.87
- IBRX Price Action: Immunitybio stock witnessed a 2.6% uptick, closing at $3.98 in the recent session.
Progyny Inc
- Progyny faced setbacks in the second quarter with underwhelming revenue figures. Nonetheless, CEO Pete Anevski remains optimistic, stating that the company’s performance remains within expected parameters. The stock witnessed a sizeable 31% decline over the past month, reaching a 52-week low of $19.60.
- RSI Value: 29.06
- PGNY Price Action: Progyny shares showed resilience with a 1.7% surge, closing at $20.85 most recently.