On Thursday, Avexis ( AVXS ) reached an important technical milestone, with its Relative Strength ( RS ) Rating climbing into the 90-plus percentile with an improvement to 93, a rise from 90 the day before.
[ibd-display-video id=2385970 width=50 float=left autostart=true] This unique rating measures market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks matches up against other publicly traded companies.
History reveals that the top-performing stocks typically have an RS Rating of at least 80 as they launch their biggest runs.
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Avexis is now considered extended and out of buy range after clearing an 86.08 buy point in a third-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.
The company reported -74% earnings growth in its most recent report. Revenue increased 0%.
Avexis earns the No. 157 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.
