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The most oversold stocks in the healthcare sector offer an opportunity to buy undervalued companies.
The RSI is a momentum indicator that compares a stock’s strength on days when prices are rising to its strength on days when prices are falling. When compared to a stock’s price action, it can give traders a better idea of how a stock may perform in the short term. An asset is typically considered oversold when its RSI is below 30, according to Benzinga Pro.
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Here is the latest list of major oversold players in this sector, with an RSI of around or below 30.
Progyny Inc (NASDAQ:PGNY)
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On Sept. 19, the company said a customer had chosen to exercise an option to terminate its service agreement with the company. The company’s shares have fallen about 32% over the past five days, hitting a 52-week low of $13.93.
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RSI value: 26.50
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PGNY Price Action: Shares of Progyny rose 1% on Friday to close at $16.62.
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Benzinga Pro’s real-time news feed keeps you up to date with the latest PGNY news.
Indivior PLC (NASDAQ:INDV)
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On September 4, Indivior provided an update on Aelis Farma’s Phase 2B trial of AEF0117 in participants with cannabis use disorder. It has a 52-week low of $9.14.
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RSI value: 25.92
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RELI Price Action: Shares of Indivior fell 2.1% on Friday to close at $9.48.
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Using Benzinga Pro’s charting tool, I was able to identify the trend in INDV stock.
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Moderna Inc (NASDAQ:MRNA)
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On September 17, Moderna announced that Health Canada had approved its vaccine, SPIKEVAX, which helps prevent COVID-19 in people six months of age and older. The vaccine targets the KP.2 variant of COVID-19. The company plans to begin shipping the vaccine to the Public Health Agency of Canada soon. “With the recent increase in COVID-19 infections, keeping your COVID-19 vaccination up to date remains one of the best ways to protect yourself from severe disease,” said Dr. Shehzad Iqbal, chief medical officer of Moderna Canada. The company’s shares have fallen about 20% in the past month, hitting a 52-week low of $62.55.
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RSI value: 28.17
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MRIN Price Promotion: Shares of Moderna fell 3.4% on Friday to close at $65.69.
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Benzinga Pro’s Signals feature warns of a potential breakout in MRNA stocks.
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This article Top 3 Healthcare Stocks That Could Explode This Month originally appeared on Benzinga.com
