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.

• On Dec. 3, Revolution Medicines priced its upsized $750 million public offering of 14,130,436 common stock at $46/share and pre-funded warrants. The company's stock fell around 17% over the past five days and has a 52-week low of $23.38.
• RSI Value: 27.88                        
• RVMD Price Action: Shares of Inter fell 6.9% to close at $48.23 on Tuesday.
• Benzinga Pro's real-time newsfeed alerted to latest RVMD news.

• On Dec. 2, Leerink Partners analyst Daniel Clark initiated coverage on Elanco Animal Health with a Market Perform rating and announced a price target of $14. The company's stock fell around 7% over the past five days and has a 52-week low of $11.40.
• RSI Value: 27.85
• ELAN Price Action: Shares of Elanco Animal Health fell 7.4% to close at $12.48 on Tuesday.
• Benzinga Pro’s charting tool helped identify the trend in ELAN stock.

• On Nov. 5, Sotera Health reported quarterly earnings of 17 cents per share which missed the analyst consensus estimate of 18 cents per share. The company reported quarterly sales of $285.468 million which beat the analyst consensus estimate of $278.585 million. “I am pleased we achieved both top- and bottom-line growth for the third-quarter,” said Chairman and Chief Executive Officer Michael B. Petras, Jr. “Our performance was largely in line with expectations, with an additional benefit at Nordion tied to the timing of cobalt-60 shipments. With most of the year behind us, we are reaffirming the 2024 revenue and EBITDA outlook ranges previously provided.” The company's stock fell around 19% over the past month and has a 52-week low of $10.71.
• RSI Value: 29.58
• SHC Price Action: Shares of Sotera Health fell 3.2% to close at $12.83 on Tuesday.
• Benzinga Pro’s signals feature notified of a potential breakout in SHC shares.