Amerisourcebergen Earns IBD Rating Upgrade
The Relative Strength (RS) Rating for Amerisourcebergen moved up into a new percentile Tuesday, as it got a lift from 63 to 71.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength.
This unique rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks compares to the rest of the market.
Decades of market research reveals that the stocks that go on to make the biggest gains typically have an 80 or better RS Rating in the early stages of their moves. See if Amerisourcebergen can continue to show renewed price strength and clear that threshold.
Amerisourcebergen is working on a flat base with a 128.97 entry. See if it can clear the breakout price in heavy trading.
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 17%, compared to 5% in the prior report. Revenue increased from 4% to 18%. The next quarterly results are expected on or around Nov. 5.
The company holds the No. 2 rank among its peers in the Medical-Wholesale Drugs industry group. Amerisourcebergen and Owens & Minor are also among the group's highest-rated stocks.