27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
The most overbought stocks in the health care sector presents an opportunity to go short on these overvalued 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 overbought when the RSI is above 70.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Here’s the latest list of major overbought players in this sector.
NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS)
- NewAmsterdam Pharma announced topline results from ROSE2 Phase 2 trial evaluating obicetrapib in combination with ezetimibe as an adjunct to high-intensity statin therapy. The company’s stock has a 52-week high of $32.88 .
- RSI Value: 76.31
- NAMS Price Action: Shares of NewAmsterdam Pharma jumped 20% to settle at $13.56 on Thursday and added 4.9% in after-hours trading.
AN2 Therapeutics, Inc. (NASDAQ:ANTX)
- AN2 Therapeutics, during November, posted a Q3 loss of $0.59 per share. The company’s stock has a 52-week high of $23.58.
- RSI Value: 76.53
- ANTX Price Action: Shares of AN2 Therapeutics jumped 17.5% to close at $12.31 on Thursday and added 5% in after-hours trading.
Want Private Access to Benzinga Analyst?
Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.
CollPlant Biotechnologies Ltd. (NASDAQ:CLGN)
- CollPlant recently announced pre-clinical results in 3D bioprinted regenerative breast implants porcine study and full achievement of objectives. The company has a 52-week high of $14.77.
- RSI Value: 77.04
- CLGN Price Action: Shares of CollPlant Biotechnologies rose 12.9% to close at $11.21 on Thursday and added 5.4% in after-hours trading.
GlycoMimetics, Inc. (NASDAQ:GLYC)
- GlycoMimetics, last month, announced new uproleselan clinical data in both frontline unfit and treated secondary acute myeloid leukemia presented at ASH Annual Meeting. The company’s 52-week high is $3.48.
- RSI Value: 71.64
- GLYC Price Action: Shares of GlycoMimetics rose 8.1% to close at $3.35 on Thursday and added 1.5% in after-hours trading.
Meihua International Medical Technologies Co., Ltd. (NASDAQ:MHUA)
- Meihua International Medical Technologies recently entered into strategic partnership with Getein Biotech Inc. to jointly produce and sell Covid-19 antigen test kits and IVDs. The company has a 52-week high of $14.94.
- RSI Value: 74.42
- MHUA Price Action: Shares of Meihua International Medical Technologies rose 9.7% to settle at $13.49 on Thursday and added 2.3% in after-hours trading.
Read More: Investor Optimism Improves Further Following GDP Report
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.