Veracyte stock had its Relative Strength (RS) Rating upgraded from 70 to 76 Tuesday — a welcome improvement, but still short of the 80 or better score you prefer to see.
Can You Really Time The Stock Market?
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 the other stocks in our database.
Decades of market research reveals that the top-performing stocks often have an RS Rating of at least 80 in the early stages of their moves. See if Veracyte can continue to rebound and hit that benchmark.
Is Veracyte Stock A Buy?
Veracyte stock is currently trading below its 50- and 200-day moving averages and is not offering a proper buying opportunity. See if the stock goes on to form a chart pattern that could ignite a new run. Given current stock market uncertainties and volatility, IBD recommends a cautious 40-60% market exposure. Be judicious with stock purchases.
The medical diagnostic firm showed 71% EPS growth in the latest quarterly report. Revenue increased 21%. The next quarterly results are expected on or around May 7.
Veracyte stock holds the No. 10 rank among its peers in the Medical-Services industry group. Hims & Hers Health, Option Care Health and iRhythm Technologies are among the top 5 highly rated stocks within the group.
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