Credit: Shutterstock photoIn a welcome move, Biogen ( BIIB ) saw its Relative Strength Rating rise from 68 to 72 on Tuesday.
[ibd-display-video id=2102289 width=50 float=left autostart=true] This exclusive rating from Investor's Business Daily identifies price movement with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the last 52 weeks compares to all the other stocks in our database.
Decades of market research shows that the market's biggest winners tend to have an RS Rating of at least 80 in the early stages of their moves. See if Biogen can continue to show renewed price strength and clear that threshold.
See How IBD Helps You Make More Money In Stocks
Biogen is building a cup without handle with a 348.94 entry . See if it can clear the breakout price in volume at least 40% above average.
While the company's top line growth fell last quarter from 6% to 4%, the bottom line grew 22%, up from -3% in the previous report.
Biogen holds the No. 9 rank among its peers in the Medical-Biomed/Biotech industry group. Sucampo Pharmaceuticals ( SCMP ), Corcept Therapeutics ( CORT ) 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.
