On Monday, Summit Therapeutics reached a noteworthy technical benchmark, with its Relative Strength (RS) Rating entering into the 90-plus percentile with an upgrade to 93, a rise from 89 the day before.
How To Use Stock Charts To Stay Profitable And Protected
IBD's proprietary rating measures market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals 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 run.
Summit Therapeutics is now considered extended and out of buy range after clearing a 25.00 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 line.
Summit Therapeutics posted 0% EPS growth last quarter. Sales increased -100%. The next quarterly results are expected on or around Aug. 6.
Summit Therapeutics holds the No. 172 rank among its peers in the Medical-Biomed/Biotech industry group. Exelixis, Harmony Biosciences 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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