RS

Stocks Showing Improved Relative Strength: Lannett

An image of people surrounding a sheet of paper with many charts on it Credit: Shutterstock photo

Lannett ( LCI ) saw a positive improvement to its Relative Strength ( RS ) Rating on Thursday, rising from 68 to 71.

[ibd-display-video id=2881825 width=50 float=left autostart=true] IBD's proprietary RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks compares to the rest of the market.

Over 100 years of market history shows that the best stocks typically have an RS Rating of over 80 as they launch their largest climbs. See if Lannett can continue to show renewed price strength and clear that threshold.

See How IBD Helps You Make More Money In Stocks

Lannett is now considered extended and out of buy range after clearing a 23.85 buy point in a first-stage double bottom . 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.

Although earnings and sales growth came in at -22% and -4%, respectively, in the latest report, that marked acceleration for both the top and bottom lines. Lannett is expected to release its next quarterly numbers on or around Feb. 1.

The company earns the No. 5 rank among its peers in the Medical-Generic Drugs industry group. ANI Pharmaceuticals ( ANIP ) is the top-ranked stock within the group.

RELATED:

Which Stocks Are Showing Improved Technical Action?

Why Should You Use IBD's Relative Strength Rating?

How Relative Strength Line Can Help You Judge A Stock

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.

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.