Stocks Flashing Renewed Technical Strength: Silk Road Medical
When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is Silk Road Medical, which had its Relative Strength (RS) Rating upgraded from 80 to 84 Tuesday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique RS Rating measures technical performance by showing how a stock's price movement over the last 52 weeks compares to that of other stocks on the major indexes.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains often have an RS Rating north of 80 in the early stages of their moves.
Silk Road Medical is building a cup without handle with a 75.90 buy point. See if the stock can break out in volume at least 40% above average.
Top and bottom line growth moved higher last quarter. Earnings were up 3%, compared to 0% in the prior report. Revenue increased from 16% to 75%.
Silk Road Medical earns the No. 47 rank among its peers in the Medical-Products industry group. Bio Rad Labs and Staar Surgical are also among the group's highest-rated stocks.