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 Silk Road Medical stock, which saw a welcome improvement to its Relative Strength (RS) Rating on Friday, with an upgrade from 69 to 90.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength. This exclusive rating from Investor's Business Daily measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the trailing 52 weeks compares to all the other stocks in our database.
Decades of market research reveals that the stocks that go on to make the biggest gains often have an 80 or higher RS Rating at the beginning of a new run.
Looking For Winning Stocks? Try This Simple Routine
Is Silk Road Medical Stock A Buy?
Silk Road Medical stock is now considered extended and out of buy range after clearing a 40.42 buy point in a first-stage cup with handle. 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. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The medical device firm posted -54% EPS growth last quarter, while sales growth came in at 27%. The next quarterly numbers are expected on or around Jul. 29.
Silk Road Medical stock earns the No. 32 rank among its peers in the Medical-Products industry group. Lantheus, Meridian Bioscience and Repligen are among the top 5 highly rated stocks within the group.
