One important metric to look for in a stock is an 80 or higher Relative Strength Rating. CRISPR Therapeutics (CRSP) cleared that benchmark Wednesday, with a jump from 69 to 89 Wednesday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD’s unique RS Rating tracks technical performance by showing how a stock’s price movement over the last 52 weeks measures up against that of other stocks on the major indexes.
Decades of market research reveals that the best stocks often have an 80 or better RS Rating as they begin their biggest runs.
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Now is not an ideal time to jump in since it isn’t near a proper buy zone after blasting higher on numbers from the recent earning release. Best to wait for some consolidating and then see if the stock is able to establish a new pattern, then enter a buy zone in heavy trade.
The company reported 0% earnings growth in the latest quarterly report, however sales growth came in at a whopping 10,538%.
CRISPR Therapeutics holds the No. 61 rank among its peers in the Medical-Biomed/Biotech industry group. Arcturus Therapeutics (ARCT) is also among the group’s highest-rated stocks.
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The post CRISPR Therapeutics Stock Sees Relative Strength Rating Rise To 89 appeared first on Investor’s Business Daily.