On Friday, Eli Lilly reached a noteworthy technical benchmark, with its Relative Strength (RS) Rating moving into the 80-plus percentile with an upgrade to 84, up from 80 the day before.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating identifies market leadership by showing how a stock's price action over the last 52 weeks compares to that of other stocks on the major indexes.
Over 100 years of market history reveals that the top-performing stocks often have an RS Rating north of 80 in the early stages of their moves.
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Is Eli Lilly Stock A Buy?
Eli Lilly stock just peaked above its 200-day moving average, but still lives under its 50-day line. The medical issue is not currently near a potential buy zone. See if the stock goes on to build a chart pattern that could launch a new move. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The diversified medical firm showed 8% earnings growth in the latest quarterly report, while sales growth came in at 8%.
Eli Lilly stock holds the No. 2 rank among its peers in the Medical-Diversified industry group. Eli Lilly and Danaher are also among the group's highest-rated stocks. For more industry news, check out "Biotech And Pharma Industry And Stock News."
