When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is Global Blood Therapeutic stock, which saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, rising from 85 to 91.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. This proprietary rating measures 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.
Over 100 years of market history shows that the best stocks tend to have an RS Rating of over 80 in the early stages of their moves.
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Is Global Blood Therapeutics Stock A Buy?
Global Blood Therapeutics Stock has been trading above its 50-day and 200-day moving average, but it's not within a buy zone. While it's not currently an ideal time to invest, see if the stock goes on to establish and enter a buy zone in heavy volume. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
While earnings-per-share growth fell in the company's most recent performance report from 0% to -4%, sales rose 41%, up from 36% in the prior report. The biotech company is expected to report its latest results on or around Aug. 3.
Global Blood Therapeutics stock earns the No. 70 rank among its peers in the Medical-Biomed/Biotech industry group. Vertex Pharmaceuticals, Amphastar Pharmaceutcls and Corcept Therapeutics are among the top 5 highly rated stocks within the group. For more industry news, check out "Biotech And Pharmaceutical Industry And Stock News."
