Top 3 Health Care Stocks Which Could Rescue Your Portfolio This Month

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, according to Benzinga Pro.

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

AbbVie (NYSE:ABBV)

• On Dec. 12, Morgan Stanley analyst Terence Flynn maintained AbbVie with an Overweight rating and raised the price target from $261 to $269. The company's stock fell around 4% over the past five days and has a 52-week low of $164.39.
• RSI Value: 29.9
• ABBV Price Action: Shares of AbbVie fell 4% to close at $220.18 on Monday.
• Edge Stock Ratings: 91.92 Momentum score with Value at 93.51.

argenx SE – ADR (NASDAQ:ARGX)       

• On Dec. 18, Baird analyst Colleen Kusy downgraded argenx from Outperform to Neutral and lowered the price target from $924 to $858. The company's stock fell around 11% over the past month and has a 52-week low of $510.06.
• RSI Value: 19.6
• ARGX Price Action: Shares of argenx fell 4.7% to close at $800.88 on Monday.
• Benzinga Pro’s charting tool helped identify the trend in ARGX stock.

Neurocrine Biosciences Inc (NASDAQ:NBIX)

• On Dec. 22, Neurocrine Biosciences issued an update on Phase 3 study of valbenazine in dyskinetic cerebral palsy. “These results are disappointing, as there are no approved treatments for people living with dyskinetic cerebral palsy,” said Sanjay Keswani, M.D., Chief Medical Officer, Neurocrine Biosciences. “We are deeply grateful to the patients and their families, as well as the investigators and site staff, whose commitment, dedication, and participation made this clinical trial possible.” The company's stock fell around 12% over the past month and has a 52-week low of $84.23.
• RSI Value: 27.4
• NBIX Price Action: Shares of Neurocrine Biosciences fell 3.3% to close at $135.99 on Monday.
• Benzinga Pro’s signals feature notified of a potential breakout in NBIX shares.

Learn more about BZ Edge Rankings—click to see scores for other stocks in the sector and see how they compare.

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