Eli Lilly had its Relative Strength (RS) Rating upgraded from 62 to 73 Tuesday -- a welcome improvement, but still shy of the 80 or higher score you prefer to see.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique rating identifies market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the trailing 52 weeks compares to all the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains typically have an RS Rating north of 80 in the early stages of their moves. See if Eli Lilly can continue to rebound and clear that threshold.
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Eli Lilly has broken out of a complete a cup without handle with a 346.63 entry. It is currently in the buy range, but be aware the RS Rating is less then ideal and the RS Line is not near new highs.
Earnings Review
Eli Lilly reported negative growth for both sales and earnings last quarter. The company is expected to release its next quarterly numbers on or around Apr. 27.
Eli Lilly holds the No. 2 rank among its peers in the Medical-Diversified industry group, although the group is only at no. 176 of 197 industry groups. Not a leading group/sector. Danaher is also among the group's highest-rated stocks.
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