On Thursday, Tonix Pharmaceuticals cleared an important performance benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 89, up from 72 the day before.
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This proprietary rating identifies technical performance by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
History reveals that the best stocks often have an RS Rating north of 80 in the early stages of their moves.
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock is able to form a chart pattern and break out.
The company showed 0% earnings growth last quarter. Sales rose -2%.
The company holds the No. 99 rank among its peers in the Medical-Biomed/Biotech industry group. Exelixis, Catalyst Pharmaceuticals and ADMA Biologics 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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