Revolution Medicines saw a welcome improvement to its Relative Strength (RS) Rating on Monday, with a big move from 66 to 94. Last Friday the company offered encouraging news for two cancer studies.
When you're researching the best stocks to buy and watch, be sure to pay attention to relative price strength. This exclusive rating from Investor's Business Daily measures price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the last 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history reveals that the best stocks often have an 80 or higher RS Rating at the beginning of a new price run.
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Revolution Medicines is trying to complete a cup without handle with a 35.50 entry, according to a weekly MarketSmith chart of the stock. The chart also showed the RS Line at a new high. While it might currently be extended, see if the stock can break out in volume at least 40% above average.
RVMD Earnings
The company posted 0% earnings growth last quarter, while sales growth came in at -58%. The company is expected to report its latest numbers on or around Nov. 7.
Revolution Medicines earns the No. 106 rank among its peers in the Medical-Biomed/Biotech industry group. HUTCHMED (China) ADR, Vertex Pharmaceuticals and Amphastar Pharm are among the top 5 highly rated stocks within the group.
