On Tuesday, Glaukos stock hit an important technical milestone, with its Relative Strength (RS) Rating climbing into the 90-plus percentile with an improvement to 91, a rise from 87 the day before.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD's unique RS Rating tracks technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research shows that the market's biggest winners typically have an RS Rating north of 80 at the beginning of a new run.
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Is Glaukos Stock A Buy?
Glaukos stock broke out earlier, but has fallen back below the prior 51.98 entry from a cup with handle. If a stock you're tracking clears a buy point then falls 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new chart pattern and entry price. Also understand that the most recent pattern is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
The company posted negative growth for both sales and earnings last quarter.
Glaukos stock holds the No. 55 rank among its peers in the Medical-Products industry group. Staar Surgical, Lantheus and Repligen are among the top 5 highly rated stocks within the group.
