On Wednesday, Harrow reached an important technical milestone, with its Relative Strength (RS) Rating rising into the 90-plus percentile with an improvement to 92, a rise from 80 the day before.
This proprietary rating identifies technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the trailing 52 weeks matches up against the rest of the market.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains typically have an 80 or better RS Rating in the early stages of their moves.
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Harrow is now considered extended and out of buy range after clearing a 20.31 buy point in a third-stage consolidation. 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.
The company reported 0% earnings growth in its most recent report. Revenue rose 44%.
Harrow earns the No. 141 rank among its peers in the Medical-Biomed/Biotech industry group. Krystal Biotech, ADMA Biologics and Catalyst Pharmaceuticals are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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