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AxoGen, Inc. (AXGN - Free Report) has moved higher as of late, but there could definitely be trouble on the horizon for this company. That is because AXGN is now in overbought territory with an RSI value of 72.97.
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 AXGN’s high RSI value isn’t the only reason for investors to be concerned, as there has been some decidedly negative earnings estimate revisions in AxoGen’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 AXGN’s prospects for the near term.
Over the past two months, investors have witnessed 3 earnings estimate revision lower compared to one higher for the current year. The consensus estimate for AXGN has also been on a downward trend over the same time period too, as the estimate has fallen from -$0.27/share two months ago to just -$0.30/share today.
If this wasn’t enough, AxoGen 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.
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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AxoGen (AXGN) Enters Overbought Territory
AxoGen, Inc. (AXGN - Free Report) has moved higher as of late, but there could definitely be trouble on the horizon for this company. That is because AXGN is now in overbought territory with an RSI value of 72.97.
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 AXGN’s high RSI value isn’t the only reason for investors to be concerned, as there has been some decidedly negative earnings estimate revisions in AxoGen’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 AXGN’s prospects for the near term.
Over the past two months, investors have witnessed 3 earnings estimate revision lower compared to one higher for the current year. The consensus estimate for AXGN has also been on a downward trend over the same time period too, as the estimate has fallen from -$0.27/share two months ago to just -$0.30/share today.
If this wasn’t enough, AxoGen 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 stocks here.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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