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Top 2 Health Care Stocks You May Want To Dump This Quarter

Benzinga ·  Dec 26, 2024 22:07

As of Dec. 26, 2024, two 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.

CorVel Corp (NASDAQ:CRVL)

  • On Dec. 24, CorVel announced the effectiveness of three-for-one forward stock split. The company's stock surged around 38% over the past six months and has a 52-week high of $125.52.
  • RSI Value: 84
  • CRVL Price Action: Shares of CorVel closed at $115.82 on Tuesday.

SES AI Corp (NYSE:SES)

  • On Oct. 31, SES AI posted third-quarter GAAP loss of 9 cents per share. "SES AI achieved several milestones in the third quarter, including building revenue pipeline from UAM and drones including with one of the world's largest wireless communication providers, SoftBank. We also passed the GB38031-2020 global EV industry safety tests for its 100Ah Li-Metal cells, a major step towards C-samples and start-of-production for EV," stated Dr. Qichao Hu, Founder and CEO. "Our 'All-in on AI strategy' continues to power our success with our first revenue using our AI-accelerated battery material discovery expected in the fourth quarter of 2024 this year." The company's stock gained around 82% over the past five days and has a 52-week high of $1.92.
  • RSI Value: 79
  • SES Price Action: Shares of SES closed at $0.71 on Tuesday.

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