Top 5 Health Care Stocks That May Collapse

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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.

Here’s the latest list of major overbought players in this sector.

Palisade Bio, Inc. PALI

  • Palisade Bio reported year end 2022 financial results and issued corporate update. “Our team has made great progress executing our operational plan to strengthen our financial profile, focus our pipeline and position the Company for important near-term data readouts. With the cash proceeds from our recently completed financings and exercises of warrants, we believe we are in a strong financial position to build on this momentum,” said J.D. Finley, interim Chief Executive Officer. The company’s stock has a 52-week high of $55.00 .
  • RSI Value: 83.49
  • PALI Price Action: Shares of Palisade Bio jumped 57.7% to close at $2.65 on Thursday.

Accelerate Diagnostics, Inc. AXDX

  • Accelerate Diagnostics reported better-than-expected Q4 sales results. "In 2022, we achieved another year of revenue growth thanks to our base book of satisfied customers," commented Jack Phillips, Chief Executive Officer of Accelerate Diagnostics, Inc. The company’s stock has a 52-week high of $3.74.
  • RSI Value: 81.70
  • AXDX Price Action: Shares of Accelerate Diagnostics gained 41.5% to close at $0.71 on Thursday.
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Pyxis Oncology, Inc. PYXS

  • Pyxis Oncology reported a loss of $3.65 per share in FY22. “Over the past year, our team has made significant progress in advancing PYX-201, our antibody-drug conjugate (ADC) product candidate, and PYX-106, our immunotherapy product candidate, into Phase 1 clinical trials,” said Lara S. Sullivan, M.D., President and Chief Executive Officer of Pyxis Oncology. The company has a 52-week high of $6.92.
  • RSI Value: 88.53
  • PYXS Price Action: Shares of Pyxis Oncology jumped 32.2% to close at $6.00 on Thursday.

Oak Street Health, Inc. OSH

  • Wolfe Research downgraded Oak Street Health from Outperform to Peer Perform. The company’s 52-week high is $38.79.
  • RSI Value: 83.76
  • OSH Price Action: Shares of Oak Street Health rose 4.6% to close at $38.70 on Thursday.

Achieve Life Sciences, Inc. ACHV

  • Achieve Life Sciences posted a Q4 loss of $0.83 per share. The company has a 52-week high of $8.13.
  • RSI Value: 76.60
  • ACHV Price Action: Shares of Achieve Life Sciences rose 5.9% to settle at $6.32 on Thursday.

Read More: These 3 Materials Stocks Delivering High-Dividend Yields Are Recommended By Wall Street's Most Accurate Analysts

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