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When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is Prometheus Biosciences (RXDX) stock, which saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, with an increase from 72 to 90.
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When you’re researching the best stocks to buy and watch, keep a close on eye on relative price strength. This exclusive rating from Investor’s Business Daily tracks price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock’s price performance over the last 52 weeks compares to all the other stocks in our database.
History shows that the best stocks tend to have an RS Rating north of 80 in the early stages of their moves.
Looking For Winning Stocks? Try This Simple Routine
Is Prometheus Biosciences Stock A Buy?
Prometheus Biosciences stock has been trading below its 200-day moving average. While it’s not currently an ideal time to jump in, see if the stock is able to form a consolidation and break out. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips.
Earnings growth decreased last quarter from 0% to -127%, but sales rose from 126% to 416%. Look for the next report on or around Aug. 11.
Prometheus Biosciences stock holds the No. 150 rank among its peers in the Medical-Biomed/Biotech industry group. Amphastar Pharmaceutcls (AMPH), Dynavax Technologies (DVAX) and Vertex Pharmaceuticals (VRTX) are among the top 5 highly rated stocks within the group. For more industry news, check out “Biotech And Pharmaceutical Industry And Stock News.”
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Image and article originally from www.investors.com. Read the original article here.