AbbVie stock saw a welcome improvement to its Relative Strength (RS) Rating on Monday, with an increase from 78 to 81.
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 identifies how a stock's price performance over the trailing 52 weeks matches up against the rest of the market.
Over 100 years of market history shows that the best stocks typically have an 80 or higher RS Rating as they begin their biggest climbs.
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Is AbbVie Stock A Buy?
AbbVie stock is still within a buy range after clearing a 168.11 buy point in a consolidation. The proper buying range extends to 5% above the initial entry. Once a stock moves above that range, it's best to wait for it to set up another buying opportunity.
While earnings growth declined in the company's most recently reported quarter from -19% to -23%, sales rose -5%, up from -6% in the previous report.
AbbVie stock holds the No. 4 rank among its peers in the Medical-Ethical Drugs industry group. Zoetis and Novartis ADR are also among the group's highest-rated stocks. For more industry news, check out "Biotech And Pharmaceutical Industry And Stock News."
