On Thursday, Gilead Sciences reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 91, up from 85 the day before.
IBD's unique RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks matches up against the rest of the market.
Decades of market research reveals that the market's biggest winners tend to have an 80 or higher RS Rating in the early stages of their moves.
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Gilead Sciences is now considered extended and out of buy range after clearing a 98.90 buy point in a second-stage flat base. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
While sales growth fell last quarter from 7% to 6%, earnings-per-share grew 10%, up from -12% in the previous report.
Gilead Sciences earns the No. 16 rank among its peers in the Medical-Biomed/Biotech industry group. Catalyst Pharmaceuticals, Halozyme Therapeutics and United Therapeutics are among the top 5 highly rated stocks within the group.
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