As of Feb. 2, 2024, four stocks in the health care sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

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 overbought when the RSI is above 70, according to Benzinga Pro.

Here's the latest list of major overbought players in this sector.

PepGen Inc. (NASDAQ:PEPG)

• On Jan. 8, PepGen said First Patient was dosed in CONNECT1-EDO51 Phase 2 clinical trial of PGN-EDO51 for duchenne muscular dystrophy patients amenable to Exon 51 skipping. The company's stock jumped around 79% over the past five days and has a 52-week high of $20.00 .
• RSI Value: 84.56
• PEPG Price Action: Shares of PepGen gained 23.5% to close at $12.39 on Thursday.

CalciMedica, Inc. (NASDAQ:CALC)

• On Jan. 22, CalciMedica announced a private placement of up to approximately $55 million. "We are excited about this vote of confidence from leading life science investors, which validates the progress we are making in the clinic with Auxora targeting acute inflammatory and immunologic diseases," said Rachel Leheny, Ph.D., Chief Executive Officer of CalciMedica. "This financing allows us to initiate clinical trials in AKI, a condition with significant unmet medical need, and brings us closer to our goal of making a meaningful difference in the lives of critically ill patients." The company's stock gained around 55% over the past month and has a 52-week high of $8.59.
• RSI Value: 70.24
• CALC Price Action: Shares of CalciMedica fell 16.7% to close at $6.20 on Thursday.

Oramed Pharmaceuticals Inc. (NASDAQ:ORMP)

• Oramed Pharmaceuticals, said on Jan. 22, that the company and Unit entered into joint venture agreement with Hefei Tianhui Biotech and Technowl. The company's stock gained around 24% over the past five days and has a 52-week high of $5.25.
• RSI Value: 70.03
• ORMP Price Action: Shares of Oramed Pharmaceuticals fell 5.5% to close at $2.83 on Thursday.

FibroGen, Inc. (NASDAQ:FGEN)

• On Jan. 25, FibroGen announced graduation and completion of the pamrevlumab experimental arm in the Pancreatic Cancer Action Network's Precision PromiseSM Phase 2/3 adaptive platform trial, which evaluates pamrevlumab in combination with the chemotherapy treatments gemcitabine and nab-paclitaxel for patients with metastatic pancreatic ductal adenocarcinoma. The company's stock jumped around 104% over the past five days and has a 52-week high is $25.69.
• RSI Value: 86.52
• FGEN Price Action: Shares of FibroGen gained 23.4% to close at $2.37 on Thursday.

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