Travere Clears Technical Benchmark, Hitting 80-Plus RS Rating
On Friday, Travere cleared a key performance benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 83, up from 75 the day before.
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's unique rating measures price action with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the trailing 52 weeks compares to all the other stocks in our database.
Over 100 years of market history reveals that the top-performing stocks tend to have an RS Rating north of 80 as they launch their biggest runs.
Travere has moved more than 5% past a 22.02 entry in a second-stage consolidation, meaning it's now out of a proper buy range. Look for the stock to create a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week moving average.
While earnings-per-share growth dropped last quarter from 0% to -77%, revenue rose 13%, up from -1% in the prior report.
Travere earns the No. 141 rank among its peers in the Medical-Biomed/Biotech industry group. Regeneron Pharmaceutical and Maravai Lifesciences are also among the group's highest-rated stocks.