Axsome Therapeutics had its Relative Strength (RS) Rating upgraded from 78 to 83 Wednesday.
This unique rating tracks market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research reveals that the best-performing stocks tend to have an RS Rating north of 80 as they begin their biggest climbs.
Hone Your Stock-Picking Skills By Focusing On These Factors
Axsome Therapeutics broke out earlier, but has fallen back below the prior 97.00 entry from a cup with handle. If a stock you're tracking clears a buy point then declines 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new pattern and breakout. Also understand that the most recent consolidation is a later-stage base, and such bases are more prone to failure.
Axsome Therapeutics posted 0% earnings growth in its most recent report. Revenue rose 81%.
The company holds the No. 67 rank among its peers in the Medical-Biomed/Biotech industry group. ADMA Biologics, Exelixis and Corcept Therapeutics are among the top 5 highly rated stocks within the group.
RELATED:
Biotech And Pharmaceutical Industry And Stock News
Stocks With Rising Relative Strength Ratings
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
