On Monday, ANI Pharmaceuticals hit an important technical milestone, with its Relative Strength (RS) Rating moving into the 80-plus percentile with an improvement to 89, a rise from 71 the day before.
Hone Your Stock-Picking Skills By Focusing On These Factors
IBD's proprietary rating measures price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the last 52 weeks compares to all the other stocks in our database.
History shows that the stocks that go on to make the biggest gains tend to have an RS Rating of over 80 as they launch their biggest climbs.
ANI Pharmaceuticals is now considered extended and out of buy range after clearing a 77.00 buy point in a first-stage cup without handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 76%, compared to 40% in the prior report. Revenue increased from 43% to 53%.
The company holds the No. 1 rank among its peers in the Medical-Generic Drugs industry group. Collegium Pharmaceutical and Dr. Reddy's Labs ADR are also among the group's highest-rated stocks.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
RELATED:
Which Stocks Are Showing Rising Relative Strength?
