NuVasive, Inc. has moved higher as of late, but there could definitely be trouble on the horizon for this company. That is because NUVA is now in overbought territory with an RSI value of 72.23.
What is RSI?
RSI stands for ‘Relative Strength Index’ and it is a popular indicator used by technically focused investors. It compares the average of gains in days that closed up to the average of losses in days that closed down; readings above 70 suggest an asset is overbought, while an RSI below 30 suggests undervalued conditions are present.
Other Factors
Yet NUVA’s high RSI value isn’t the only reason for investors to be concerned, as there has been some decidedly negative earnings estimate revisions NuVasive’s stock as of late. This is especially true when investors dive into some of these revisions in order to get a better picture of NUVA’s prospects for the near term.
Over the past one month, investors have witnessed 1 earnings estimate revision lower compared to none higher for the current year. The consensus estimate for NUVA’s has also been on a downward trend over the same time period too, as the estimates have fallen 0.9% over the last two months.
If this wasn’t enough, NuVasive also has a Zacks Rank #4 (Sell) which puts it into unfortunate company among its peers. So, given all of these factors, investors may want to consider exiting this stock now before it falls back to Earth. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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NuVasive, Inc. has moved higher as of late, but there could definitely be trouble on the horizon for this company. That is because NUVA is now in overbought territory with an RSI value of 72.23.
What is RSI?
RSI stands for ‘Relative Strength Index’ and it is a popular indicator used by technically focused investors. It compares the average of gains in days that closed up to the average of losses in days that closed down; readings above 70 suggest an asset is overbought, while an RSI below 30 suggests undervalued conditions are present.
Other Factors
Yet NUVA’s high RSI value isn’t the only reason for investors to be concerned, as there has been some decidedly negative earnings estimate revisions NuVasive’s stock as of late. This is especially true when investors dive into some of these revisions in order to get a better picture of NUVA’s prospects for the near term.
Over the past one month, investors have witnessed 1 earnings estimate revision lower compared to none higher for the current year. The consensus estimate for NUVA’s has also been on a downward trend over the same time period too, as the estimates have fallen 0.9% over the last two months.
If this wasn’t enough, NuVasive also has a Zacks Rank #4 (Sell) which puts it into unfortunate company among its peers. So, given all of these factors, investors may want to consider exiting this stock now before it falls back to Earth. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Click here for the 4 trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>