On Thursday, Incyte stock hit a key performance benchmark, with its Relative Strength (RS) Rating jumping into the 80-plus percentile with an upgrade to 82, an increase from 78 the day before.
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 showing how a stock's price action over the last 52 weeks compares to that of other stocks on the major indexes.
Decades of market research shows that the stocks that go on to make the biggest gains often have an RS Rating north of 80 as they begin their biggest price moves.
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Is Incyte Stock A Buy?
Incyte stock is trying to complete a flat base with an 84.68 buy point. See if it can break out in volume at least 40% above average. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The biotech company showed -49% EPS growth last quarter, while sales growth came in at 1%. The next quarterly numbers are expected on or around Feb. 7.
Incyte stock holds the No. 66 rank among its peers in the Medical-Biomed/Biotech industry group. Genmab ADR and Vertex Pharmaceuticals are also among the group's highest-rated stocks. For more industry news, check out "Biotech And Pharmaceutical Industry And Stock News."
