Top 5 Health Care Stocks That Could Blast Off In August

Author: Lisa Levin | August 04, 2023 07:52am

The most oversold stocks in the health care sector presents an opportunity to buy into undervalued 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 oversold when the RSI is below 30.

Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.

BIOLASE, Inc. (NASDAQ:BIOL)

• Biolase reported a 1-for-100 reverse stock split. The company’s stock has a 52-week low of $4.65 .
• RSI Value: 29.54
• BIOL Price Action: Shares of BIOLASE fell 7.4% to close at $4.73 on Thursday.

G Medical Innovations Holdings Ltd (NASDAQ:GMVD)

• The company’s stock dipped 44% over the past month. It has a 52-week low of $0.2050.
• RSI Value: 26.66
• GMVD Price Action: Shares of G Medical Innovations Holdings fell 6.8% to close at $0.2110 on Thursday.

Allarity Therapeutics, Inc. (NASDAQ:ALLR)

• Allarity Therapeutics and Detsamma Investments Pty Ltd have entered a Clinical Collaboration Agreement. The company’s stock has a 52-week low of $2.24.
• RSI Value: 28.06
• ALLR Price Action: Shares of Allarity Therapeutics fell 6.7% to close at $2.36 on Thursday.

ZyVersa Therapeutics, Inc. (NASDAQ:ZVSA)

• ZyVersa Therapeutics reported pricing of $2.1 million public offering of 12,727,273 shares of common stock and warrants at a price of $0.165 per unit. The company’s 52-week low is $0.1505.
• RSI Value: 28.82
• ZVSA Price Action: Shares of ZyVersa Therapeutics fell 5.9% to close at $0.1599 on Thursday.

Penumbra, Inc. (NYSE:PEN)

• Penumbra reported better-than-expected second-quarter results.. The company has a 52-week low of $139.03.
• RSI Value: 29.68
• PEN Price Action: Shares of Penumbra fell 5.3% to close at $255.28 on Wednesday.

 

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Posted In: ALLR BIOL GMVD PEN ZVSA