On Friday, Novartis ADR earned a positive adjustment to its Relative Strength (RS) Rating, from 79 to 83.
This exclusive rating from Investor's Business Daily measures share price movement with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history reveals that the top-performing stocks typically have an RS Rating of over 80 in the early stages of their moves.
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Novartis ADR broke out earlier, but has fallen back below the prior 112.98 entry from a cup with handle. In the case where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new pattern to take shape. Also understand that the most recent consolidation is a later-stage base, and such bases are more prone to failure.
Earnings grew 29% last quarter, up from 18% in the prior report. Revenue also increased, from 9% to 15%.
The company holds the No. 1 rank among its peers in the Medical-Ethical Drugs industry group. Phibro Animal Health and Protagonist Therapeutics are also among the group's highest-rated stocks.
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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