One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Cassava Sciences cleared that benchmark Wednesday, with a jump from 70 to 87 Wednesday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This proprietary rating measures market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matches up against other publicly traded companies.
Over 100 years of market history reveals that the best-performing stocks often have an RS Rating of over 80 in the early stages of their moves.
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Cassava Sciences is not currently at a good buy point. It has been struggling staying above key moving averages in recent trading. Look for the stock to form a new pattern that offers a good entry point while also showing heavier trade.
Cassava Sciences reported 0% earnings growth last quarter. Sales increased 0%.
Cassava Sciences holds the No. 287 rank among its peers in the Medical-Biomed/Biotech industry group. Genmab ADR and Vertex Pharmaceuticals are also among the group's highest-rated stocks.
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