When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD’s unique RS Rating identifies technical performance by showing how a stock’s price action over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research reveals that the market’s biggest winners typically have an RS Rating north of 80 at the beginning of a new climb.
The IBD 50 stock broke out earlier, but has fallen back below the prior 194.85 entry from a consolidation. If a stock you’re watching climbs above a buy point then retreats 7% or more below the original entry price, it’s considered a failed base. It’s best to wait for the stock to form a new pattern and breakout. Also understand that the latest consolidation is a later-stage base, and such bases are more prone to failure.
While the company’s bottom line growth dropped in the prior quarter from 350% to 25%, revenue rose 45%, up from 44% in the prior report. Look for the next report on or around Apr. 30.
Novocure holds the No. 9 rank among its peers in the Medical-Products industry group. Align Technology (ALGN), Avista Healthcare (ORGO) and Repligen (RGEN) are among the top 5 highly rated stocks within the group.
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