One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Ginkgo Bioworks Holdings now clears that threshold, with a jump from 71 to 86 Thursday.
This unique rating tracks market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks matches up against other publicly traded companies.
Decades of market research shows that the stocks that go on to make the biggest gains often have an RS Rating of over 80 as they begin their biggest runs.
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Ginkgo Bioworks Holdings is now considered extended and out of buy range after clearing a 10.89 buy point in a first-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 moving average.
The company posted 0% earnings growth last quarter. Sales gains came in at 61%. Look for the next report on or around Feb. 27.
Ginkgo Bioworks Holdings holds the No. 163 rank among its peers in the Medical-Biomed/Biotech industry group. Catalyst Pharmaceuticals, Halozyme Therapeutics and Corcept Therapeutics are among the top 5 highly rated stocks within the group.
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