Axsome Therapeutics had its Relative Strength (RS) Rating upgraded from 86 to 91 Tuesday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. This proprietary rating identifies technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research reveals that the top-performing stocks typically have an RS Rating of at least 80 in the early stages of their moves.
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Axsome Therapeutics broke out earlier, but has fallen back below the prior 91.29 entry from a consolidation. 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. Aggressive traders may consider it a play after bouncing off the 21-day moving average, however.
Axsome Therapeutics posted 0% earnings growth in its most recent report. Sales gains came in at 243%.
The company holds the No. 132 rank among its peers in the Medical-Biomed/Biotech industry group. Alkermes, Amphastar Pharm and Immunogen are among the top 5 highly rated stocks within the group.
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