AbbVie saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, rising from 71 to 82.
This unique rating tracks market leadership by showing how a stock's price action over the last 52 weeks compares to that of other stocks on the major indexes.
History reveals that the best stocks often have an 80 or better RS Rating in the early stages of their moves.
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AbbVie is still within a buy zone after climbing above a 199.95 buy point in a flat base. Once a stock moves 5% or higher beyond the original entry, it's considered out of a proper buying area.
The company reported 2% earnings growth last quarter. Revenue rose 4%.
AbbVie holds the No. 3 rank among its peers in the Medical-Ethical Drugs industry group. Phibro Animal Health is the No. 1-ranked stock within the group.
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