Credit: Shutterstock photoWhen putting together your watch list, focus on stocks with an 80 or higher RS Rating . Array Biopharma ( ARRY ) just cleared that benchmark with an upgrade from 79 to 83.
[ibd-display-video id=2385970 width=50 float=left autostart=true] IBD's proprietary rating measures market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the last 52 weeks stacks up against all the other stocks in our database.
History shows that the stocks that go on to make the biggest gains tend to have an RS Rating north of 80 as they begin their biggest climbs.
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Array Biopharma is trying to complete a cup with handle with a 12.78 entry . See if the stock can clear the breakout price in volume at least 40% higher than normal. Note that it's a third-stage base. Such later-stage patterns involve more risk and are more and have a higher likelihood to fail than earlier-stage consolidations.
Array Biopharma posted negative growth for both sales and earnings last quarter.
Array Biopharma holds the No. 165 rank among its peers in the Medical-Biomed/Biotech industry group. Corcept Therapeutics ( CORT ), Sucampo Pharmaceuticals ( SCMP ) and Xoma ( XOMA ) are among the top 5 highly rated stocks within the group.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
