As of Dec. 5, 2023, five stocks in the health care sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
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 overbought when the RSI is above 70, according to Benzinga Pro.
Here’s the latest list of major overbought players in this sector.
EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT)
On Dec. 4, EyePoint Pharmaceuticals announced topline results of its Phase 2 DAVIO 2 trial of EYP-1901, an investigational sustained delivery maintenance treatment for wet age-related macular degeneration (wet AMD) combining vorolanib, a selective tyrosine kinase inhibitor with bioerodible Durasert E. The company’s stock jumped around 198% over the past five days and has a 52-week high of $22.44 .
RSI ...
Benzinga
