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The most oversold stocks in the health care sector present an opportunity to buy into undervalued companies.
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 oversold when the RSI is below 30, according to Benzinga Pro.
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Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
Progyny Inc (NASDAQ:PGNY)
On Sept. 19, the company said a client elected to exercise an option to terminate its services agreement with the company. The company's stock fell around 32% over the past five days and has a 52-week low of $13.93.
RSI Value: 26.50
PGNY Price Action: Shares of Progyny rose 1% to close at $16.62 on Friday.
Benzinga Pro's real-time newsfeed alerted to latest PGNY news.
Indivior PLC (NASDAQ:INDV)
On Sept. 4, Indivior issued an update on Aelis Farma’s Phase 2B study with AEF0117 in participants with cannabis use disorder. It has a 52-week low of $9.14.
RSI Value: 25.92
RELI Price Action: Shares of Indivior fell 2.1% to close at $9.48 on Friday.
Benzinga Pro’s charting tool helped identify the trend in INDV stock.
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Moderna Inc (NASDAQ:MRNA)
On Sept. 17, Moderna announced that Health Canada approved its vaccine, SPIKEVAX, which aids in preventing COVID-19 in people six months of age or older.The vaccine targets the KP.2 variant of COVID-19. The company plans to begin delivery of the vaccine to the Public Health Agency of Canada shortly. "With the recent increase in COVID-19-infections, staying up to date with your COVID-19 vaccination remains one of the best ways to help protect yourself from severe illness," said Dr. Shehzad Iqbal, country medical director, Moderna Canada. The company's shares fell around 20% over the past month and has a 52-week low of $62.55.
RSI Value: 28.17
MRNA Price Action: Shares of Moderna fell 3.4% to close at $65.69 on Friday.
Benzinga Pro’s signals feature notified of a potential breakout in MRNA shares.
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This article Top 3 Health Care Stocks That May Explode This Month originally appeared on Benzinga.com