Alx Oncology Holding had its Relative Strength (RS) Rating upgraded from 70 to 76 Tuesday -- a welcome improvement, but still short of the 80 or higher score you prefer to see.
As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's proprietary RS Rating measures 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 other publicly traded companies.
Decades of market research shows that the top-performing stocks often have an RS Rating of over 80 in the early stages of their moves. See if Alx Oncology Holding can continue to rebound and clear that threshold.
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Alx Oncology Holding has climbed more than 5% past a 46.73 entry in a first-stage cup with handle, meaning it's now out of a proper buy range. Look for the stock to create a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company showed -59% EPS growth last quarter, while sales growth came in at -100%.
The company earns the No. 229 rank among its peers in the Medical-Biomed/Biotech industry group. Alkermes and Innoviva are also among the group's highest-rated stocks.
