The health care sector has caught the attention of investors who prize momentum in trading.
The Relative Strength Index (RSI) can give traders insights into a stock’s short-term performance based on its price action. Stocks are deemed overbought when the RSI is above 70.
Here’s a closer look at some notable overbought players in this sector.
PepGen Inc. PEPG
- Recently, PepGen reported positive news regarding its clinical trial, leading to a surge in its stock price by 79% in the past five days. The company hit a 52-week high of $20.00.
- RSI Value: 84.56
- PEPG Price Action: Shares of PepGen rose by 23.5% to close at $12.39 on Thursday.
CalciMedica, Inc. CALC
- CalciMedica’s announcement of a private placement of up to approximately $55 million caused its stock to soar by around 55% in the past month. The company hit a 52-week high of $8.59.
- RSI Value: 70.24
- CALC Price Action: Shares of CalciMedica dropped by 16.7% to close at $6.20 on Thursday.
Oramed Pharmaceuticals Inc. ORMP
- Oramed Pharmaceuticals’ recent joint venture agreement led to a stock gain of around 24% over the past five days. The company hit a 52-week high of $5.25.
- RSI Value: 70.03
- ORMP Price Action: Shares of Oramed Pharmaceuticals fell by 5.5% to close at $2.83 on Thursday.
FibroGen, Inc. FGEN
- FibroGen’s announcement of the completion of an experimental arm in a pancreatic cancer trial saw its stock surge by 104% over the past five days. The company hit a 52-week high of $25.69.
- RSI Value: 86.52
- FGEN Price Action: Shares of FibroGen gained by 23.4% to close at $2.37 on Thursday.
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