Stock Upgrades: Cryoport Shows Rising Relative Strength
Cryoport saw a welcome improvement to its Relative Strength (RS) Rating on Wednesday, with an increase from 68 to 80.
When looking for the best stocks to buy and watch, one factor to watch closely is 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 performance over the last 52 weeks matches up against the rest of the market.
Decades of market research reveals that the top-performing stocks typically have an RS Rating of at least 80 as they begin their biggest runs.
While the stock is not near a proper buy point right now, see if it goes on to form and break out from a proper base.
Earnings growth fell last quarter from 0% to -6%. But revenue moved higher, from 445% to 498%.
The company earns the No. 8 rank among its peers in the Transportation-Logistics industry group. Expeditors International and XPO Logistics are also among the group's highest-rated stocks.