On Tuesday, Protagonist Therapeutics hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 97, up from 65 the day before.
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.
History reveals that the market's biggest winners often have an 80 or higher RS Rating as they begin their largest climbs.
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Protagonist Therapeutics has risen more than 5% past a 48.89 entry in a second-stage consolidation, meaning it's now out of a proper buy range. Look for the stock to create a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 0% to 350%. Revenue rose from -100% to 184%.
The company earns the No. 3 rank among its peers in the Medical-Ethical Drugs industry group. Novartis ADR is the No. 1-ranked stock 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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