Avadel Pharmaceuticals saw a welcome improvement to its Relative Strength (RS) Rating on Monday, rising from 88 to 91.
How To Use Stock Charts To Stay Profitable And Protected
This proprietary rating measures market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the last 52 weeks matches up against other publicly traded companies.
Decades of market research shows that the best stocks often have an RS Rating north of 80 at the beginning of a new run.
While it's not currently an ideal time to buy shares, see if the stock is able to establish and enter a buying range in heavy volume.
The company reported 0% earnings growth in the latest quarterly report, while sales growth came in at 64%. Keep an eye out for the company's next round of numbers on or around Nov. 5.
Avadel Pharmaceuticals earns the No. 18 rank among its peers in the Medical-Biomed/Biotech industry group. Aurinia Pharmaceuticals, Halozyme Therapeutics and argenx ADR are among the top 5 highly rated stocks within the group.
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.
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