Data as-of 2026-07-28 close.

Five names are now overbought in this 39-ticker cut — up from just one (TMO) three sessions ago. IQV leads at RSI 79.1 (a parabolic regime read, up 25.7% over 30 days), with INCY close behind at 75.9 after a single-day, +9.3% move on 3x average volume. At the other end, LEGN cracked into extreme oversold — RSI 31.1 → 24.6, the sector's first sub-25 print in months, on a -19.1% single week. ISRG is the notable middle story: RSI climbed from 31.4 to 42.4 and its 52-week-high gap narrowed from -45.0% to -40.1%, but the regime classifier still reads "collapse" — real improvement, not a confirmed turn.

Source: biotech-scan.json. Latest bar 2026-07-28 for every name in this cut. Prior scan: 2026-07-25-biotech-scan.

The overbought side of this cut widened fast. IQV's RSI hit 79.1 — the highest print in this scan and a "parabolic" regime read — on a one-day move of +13.94% and +25.69% over 30 days (change1d, change30d per biotech-scan.json). INCY isn't far behind at RSI 75.9, crossed on a +9.30% single-day gain with relative volume at 3.33x its average — both names have run hard enough that a fresh entry here means chasing, not buying a dip. ABBV and AMGN also pushed into overbought territory this scan (67.4 → 70.2 and 64.1 → 72.8), while TMO — the sole overbought name three sessions ago — cooled fractionally (71.0 → 70.3) rather than extending further.

LEGN is the session's clearest breakdown. RSI fell from 31.1 to 24.6 on a -19.12% single week (change7d) — the sector's first sub-25 print in several scans — with the price now -54.95% off its 52-week high. The trend classifier reads down GC: a golden-cross flag is on file, but the regime is "downtrend," not a confirmed reversal signal.

ISRG remains the cut's most instructive middle case. RSI moved from 31.4 to 42.4 — out of the oversold band entirely — and the gap to its 52-week high narrowed from -45.02% to -40.09%, both real improvements. But the regime classifier still reads "collapse," the trend is strong-down DC, and the thesis flag on file still says "intact." That combination — better tape, unconfirmed structure — is worth tracking rather than treating as resolved.

Away from those extremes, a genuine middle formed: DHR, GILD, DXCM, BIIB, VRTX, and NVO all sit in the RSI 50s-60s with golden-cross or up-trending structure and no single name badly extended — the cleanest zone in the cut for now.

• The overbought cluster grew from one name to five. IQV (61.6 → 79.1), INCY (61.9 → 75.9), AMGN (64.1 → 72.8), ABBV (67.4 → 70.2) all crossed the 70 threshold; TMO (71.0 → 70.3) held roughly flat at the top.
• LEGN cracked into extreme oversold. RSI 31.1 → 24.6, -19.12% over the past week — the first sub-25 print in this cut in several scans.
• ISRG recovered out of the oversold band. RSI 31.4 → 42.4; 52-week-high gap narrowed -45.0% → -40.1%. Regime classifier still reads "collapse."
• BMRN and MDT both climbed meaningfully. BMRN: 56.7 → 66.9. MDT: 55.7 → 64.6 (though MDT's own regime field still reads "downtrend" despite the RSI gain — a mixed signal).
• KYMR cooled from its prior extension. RSI 54.6 → 48.6, -6.36% over the week.
• IONS stayed roughly flat and oversold. RSI 32.7 → 30.2, still -31.47% over 30 days, regime still "collapse."
• NTLA ticked up slightly but remains "collapse." RSI 30.5 → 32.8.
• Universe unchanged. Same 39 tickers as the July 25 cut — no entrants or dropouts.

RSI measures how stretched a stock is over the past 14 sessions — under 30 signals oversold, over 70 signals overbought/extended. vs SMA20 is the price gap to the 20-day average; a large negative number means a fast recent decline. vs VWAP is the premium (or discount) versus the average price paid by everyone still holding — a big positive number means most of a name's move is unrealized gain that can get sold into weakness. Trend pairs direction/strength with a cross signal: GC (golden cross, the short-term average above the long-term average) is structurally healthier than DC (death cross). A stock at a low RSI while still marked strong-down DC or in a "collapse" regime — like ISRG here — is not a confirmed buy signal; it means the price is cheap relative to its own recent range, not that the structure has turned.

LEGN (24.6) — the sector's first sub-25 print in several scans, on a -19.1% single week. Trend classifier still reads down GC, regime "downtrend" — no confirmed reversal signal.

IONS (30.2), NTLA (32.8), RARE (34.5), SRPT (34.7), BEAM (37.2), EDIT (38.4), CRSP (39.3), DNA (39.8). Eight names, most in "downtrend" or "collapse" regimes with no confirmed floor.

• Cooling band: MRNA, ISRG, RXRX, LABU, XBI, KYMR. ISRG is the standout here for its recent improvement despite a still-"collapse" regime read.
• Basing band: ALNY, BNTX, BIIB, DXCM, NKTR, DHR, VRTX, GILD, IBBQ, IBB, ILMN. The cleanest zone in the cut — none extended, none broken.
• Momentum / overbought band: PTGX, LLY, COGT, NVO, A, MDT, REGN, BMRN, ABBV, TMO, AMGN, INCY, IQV. Five of these (ABBV, TMO, AMGN, INCY, IQV) are now above the 70 overbought line — up from one last scan.

• Five names are now overbought at once, versus one three sessions ago — does this cluster keep extending, or does the sector give it back the way LEGN just did?
• LEGN just posted the sector's first sub-25 print in months — does a reversal show up, or does the decline keep compounding?
• ISRG's tape improved (RSI 31.4 → 42.4, 52wk-high gap narrower) while its regime still reads "collapse" — which read wins over the next scan?
• MDT's RSI climbed to 64.6 even though its own regime classifier still says "downtrend" — does the structure catch up to the price, or does this reverse?

• Tape data (price/RSI/SMA/returns): full-scan pre-computed summaries as of the 2026-07-28 close — biotech-scan.