When putting together your watch list, focus on stocks with an 80 or higher RS Rating. Bristol Myers Squibb now meets that criteria, with a jump from 80 to 83 Wednesday.
This proprietary rating identifies market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of other stocks on the major indexes.
History reveals that the market's biggest winners often have an RS Rating north of 80 as they begin their biggest runs.
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While the stock is not near a proper buy point right now, see if it manages to form and break out from a proper chart pattern.
Bristol Myers Squibb showed -10% earnings growth in the latest quarterly report, while sales growth came in at 8%.
The company earns the No. 2 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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