1. Health Canada approved ARQT's Zoryve cream for atopic dermatitis. 2. 90% of patients showed symptom improvement in clinical trials. 3. ARQT's stock rose 42% recently, closing at $17.29. 4. Current RSI value for ARQT is 71, indicating overbought conditions. 5. Tnxp Pharmaceuticals has also shown significant stock movement recently.
ARQT's RSI indicates overbought conditions, typically leading to price corrections. Historical precedents show that high RSI often precedes stock declines.
The approval of Zoryve is significant but overshadowed by overbought signals. Regulatory milestones usually have long-term benefits, but immediate price action may be hampered.
The overbought status can quickly influence investor sentiment in the near-term. Recent case studies suggest rapid corrections post-high RSI.