CareDx saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, with an increase from 78 to 84.
IBD's unique RS Rating measures market leadership by showing how a stock's price action over the last 52 weeks measures up against that of other stocks on the major indexes.
Decades of market research shows that the best stocks tend to have an RS Rating north of 80 in the early stages of their moves.
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CareDx has moved more than 5% past a 17.03 entry in a second-stage consolidation, meaning it's now out of a proper buy zone. Look for the stock to create a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company reported 0% earnings growth in the latest quarterly report, while sales growth came in at 32%. The company is expected to report its latest numbers on or around May 1.
The company earns the No. 13 rank among its peers in the Medical-Products industry group. Boston Scientific, Pro-Dex and Axogen are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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