Pacira BioSciences had its Relative Strength (RS) Rating upgraded from 79 to 93 Monday.
How To Use Stock Charts To Stay Profitable And Protected
This proprietary rating tracks market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the trailing 52 weeks matches up against the rest of the market.
Over 100 years of market history shows that the stocks that go on to make the biggest gains tend to have an RS Rating of over 80 at the beginning of a new climb.
While the stock is not near an ideal buy point right now, see if it manages to form and break out from a proper chart pattern.
The company posted 0% earnings growth in its most recent report, while sales growth came in at 1%.
The company holds the No. 23 rank among its peers in the Medical-Biomed/Biotech industry group. ADMA Biologics, Catalyst Pharmaceuticals and Halozyme Therapeutics 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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