On Thursday, Axsome Therapeutics hit a noteworthy performance benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 85, up from 80 the day before.
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IBD's proprietary RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the last 52 weeks matches up against that of all other stocks.
Over 100 years of market history reveals that the top-performing stocks often have an RS Rating north of 80 in the early stages of their moves.
Axsome Therapeutics is now considered extended and out of buy range after clearing a 105.00 buy point in a second-stage consolidation. 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 showed 0% earnings growth in its most recent report, while sales growth came in at 62%. The company is expected to report its latest numbers on or around Aug. 4.
The company holds the No. 81 rank among its peers in the Medical-Biomed/Biotech industry group. Exelixis, TG Therapeutics and Inhibrx Biosciences 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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