The Relative Strength (RS) Rating for Alkermes stock entered a new percentile Friday, with an increase from 79 to 86.
As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's unique rating tracks 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.
Over 100 years of market history shows that the best stocks tend to have an RS Rating of over 80 as they begin their biggest climbs.
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Is Alkermes Stock A Buy?
Alkermes stock broke out earlier, but has fallen back below the prior 29.38 entry from a cup with handle. If a stock you're tracking clears a buy point then retreats 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new chart pattern and buy point. Also keep in mind that the latest consolidation is a later-stage base, and such bases are more prone to failure.
Although earnings and sales growth came in at -39% and -6%, respectively, in the latest report, that marked acceleration for both the top and bottom lines.
Alkermes stock earns the No. 45 rank among its peers in the Medical-Biomed/Biotech industry group. Genmab ADR and Harmony Biosciences are also among the group's highest-rated stocks. For more industry news, check out "Biotech And Pharmaceutical Industry And Stock News."
