The Relative Strength (RS) Rating for Seagen Inc jumped into a new percentile Wednesday, with a rise from 77 to 84.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the trailing 52 weeks matches up against other publicly traded companies.
History reveals that the stocks that go on to make the biggest gains tend to have an RS Rating north of 80 in the early stages of their moves.
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While Seagen Inc is not near a proper buy point right now, see if it manages to form and break out of a proper pattern. With three straight up days, it has cleared all but one moving average. The RS line is also nearing a new high, another key marker. The MarketSmith chart notes a new CEO.
Earnings-per-share growth fell last quarter from 0% to -10%, but revenue rose from -29% to 28%.
Seagen Inc holds the No. 55 rank among its peers in the Medical-Biomed/Biotech industry group. Alkermes and Amphastar Pharmaceutcls are also among the group's highest-rated stocks.
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