On Wednesday, Dynavax Technologies reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 84, up from 80 the day before.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This unique rating tracks market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of other stocks on the major indexes.
History shows that the best stocks typically have an RS Rating of over 80 in the early stages of their moves.
Looking For The Best Stocks To Buy And Watch? Start Here
Dynavax Technologies is now considered extended and out of buy range after clearing a 10.35 buy point in a first-stage cup with handle from over a year ago. 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 line.
Earnings growth increased last quarter from -18% to 0%. But revenue gains fell from -5% to -59%.
The company holds the No. 157 rank among its peers in the Medical-Biomed/Biotech industry group, which is currently in the top 20 of groups. Arcturus Therapeutics and Kiniksa Pharmaceuticals are also among the group's highest-rated stocks.
Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks
