Ginkgo Bioworks Holdings had its Relative Strength (RS) Rating upgraded from 78 to 92 Tuesday.
This exclusive rating from Investor's Business Daily tracks share price movement with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the trailing 52 weeks holds up against all the other stocks in our database.
History reveals that the market's biggest winners tend to have an RS Rating north of 80 at the beginning of a new price run.
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Ginkgo Bioworks Holdings is now considered extended and out of buy range after clearing a 10.89 buy point in a first-stage flat base. 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 moving average.
The company reported 0% earnings growth in its most recent report. Revenue gains came in at 61%. The next quarterly results are expected on or around Feb. 27.
Ginkgo Bioworks Holdings holds the No. 161 rank among its peers in the Medical-Biomed/Biotech industry group. Halozyme Therapeutics, Catalyst Pharmaceuticals and Corcept Therapeutics are among the top 5 highly rated stocks within the group.
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