On Wednesday, Ginkgo Bioworks Holdings got an upgrade to its Relative Strength (RS) Rating, from 85 to 92.
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This exclusive rating from Investor's Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the last 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the best stocks often have an RS Rating north of 80 in the early stages of their moves.
Ginkgo Bioworks Holdings is now considered extended and out of buy range after clearing a 10.89 buy point in a first-stage flat base. 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 line.
The company posted 0% EPS growth in the latest quarterly report, while sales growth came in at 27%. Look for the next report on or around Aug. 19.
The company holds the No. 34 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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