In a welcome move, Kodiak Sciences saw its Relative Strength Rating improve from 67 to 79 on Wednesday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary rating identifies price performance with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
History shows 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 Kodiak Sciences can continue to rebound and hit that benchmark.
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Kodiak Sciences is now considered extended and out of buy range after clearing an 81.10 buy point in a third-stage cup without handle. See if the stock forms a new chart pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
The company posted -86% earnings growth last quarter. Revenue increased 0%.
Kodiak Sciences earns the No. 241 rank among its peers in the Medical-Biomed/Biotech industry group. Maravai Lifesciences and Biontech Se Ads are also among the group's highest-rated stocks.
