The following stocks (NASDAQ:ELGX, NASDAQ:SPNC and NASDAQ:CSII) are oversold as their Relative Strength index (RSI) is below 30. Indeed, the RSI is one of the most popular technical indicators and is computed on the basis of the speed and direction of a stock’s price movement, generally in a 14-day window. The RSI value will always move between 0 and 100; the value will be 0 if the stock falls on all 14 days, and 100, if the price moves up on all the days. This implies that the RSI can also be used to identify the overbought/oversold levels. Most technical analysts consider the RSI value above 70 as ‘overbought zone’ and below 30 as ‘oversold zone’.
Endologix Inc (NASDAQ:ELGX)(Trend analysis) relative strength index stands at 21.74. Endologix Inc (NASDAQ:ELGX) stock is currently trading 18.37% below its 52-week-high, 43.34% above its 52-week-low. The 1-year stock price history is in the range of $10.29 – $18.07. Endologix Inc (ELGX) has a price to book ratio of 8.69 versus Healthcare sector average of 123.65. Endologix Inc is currently valued at $0.99 billion. The stock has a 50-day moving average of $16.29 and a 200-day moving average of $15.75.
There are currently nine analysts that cover Endologix Inc stock. Of those nine, six have a Buy rating, three have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $18.19.
The stock closed last trading session at $14.75, down by -0.54%.
Spectranetics Corp (NASDAQ:SPNC)(Trend analysis) relative strength index is at the level of 23.67. The company’s shares were traded at $22.04, down by -0.68%, with a volume of 1,285,081 shares against an average volume for the last 3 months of 872,757. This represents a volume multiple of 1.47.
Spectranetics Corp (SPNC) current short interest stands at 7.19 million shares. It has increased by 4% from the same period of last month. Around 18% of the company’s shares, which are float, are short sold. With a 10-days average volume of 1.29 million shares, the number of days required to cover the short positions stand at 5.6 days.
A recent stock analyst activity consisted of Northland Securities upgrading their Underperform rating to Market Perform on April 27.
Cardiovascular Systems Inc (NASDAQ:CSII)(Trend analysis) relative strength index is evolving around the 27 level. The stock closed last trading session at $26.06, up by 1.4%, with a volume of 335,105 shares compared to an average volume for the last 3 months of 322,411. The year-to-date performance of the stock stands at -36.26%.
Cardiovascular Systems Inc (CSII) current short interest stands at 2.23 million shares. It has increased by 9% from the same period of last month. Around 9% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.39 million shares, the number of days required to cover the short positions stand at 5.8 days.