On Monday, Cryoport stock hit an important technical milestone, with its Relative Strength (RS) Rating rising into the 90-plus percentile with an upgrade to 91, a rise from 82 the day before.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength. IBD's unique rating measures share price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the trailing 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history shows that the market's biggest winners tend to have an 80 or better RS Rating in the early stages of their moves.
See How IBD Helps You Make More Money In Stocks
Is Cryoport Stock A Buy?
On Monday, Cryoport stock retook its 200-day moving average. While it's not currently an ideal time to jump in, see if the stock manages to establish and enter a buying range in heavy volume. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
While the temperature-controlled logistics company's bottom line growth declined last quarter from 0% to -43%, the top line grew 14%, up from -2% in the prior report.
Cryoport stock earns the No. 8 rank among its peers in the Transportation-Logistics industry group. Hub Group, CH Robinson Worldwide and Schneider National are among the top 5 highly rated stocks within the group.
