On Tuesday, Viking Therapeutics cleared an important technical benchmark, with its Relative Strength (RS) Rating moving into the 80-plus percentile with an improvement to 83, an increase from 77 the day before.
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IBD's unique RS Rating identifies 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.
History reveals that the market's biggest winners tend to have an RS Rating north of 80 as they begin their biggest runs.
Viking Therapeutics is now considered extended and out of buy range after clearing a 3.50 buy point in a first-stage double bottom. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company posted 0% earnings growth in the latest quarterly report. Revenue gains came in at 0%.
Viking Therapeutics earns the No. 292 rank among its peers in the Medical-Biomed/Biotech industry group. Aurinia Pharmaceuticals, Halozyme Therapeutics and Incyte are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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