On Monday, CareDx got a positive adjustment to its Relative Strength (RS) Rating, from 75 to 84.
IBD's unique RS Rating tracks technical performance by showing how a stock's price movement over the last 52 weeks compares to that of other stocks on the major indexes.
Over 100 years of market history shows that the market's biggest winners tend to have an RS Rating north of 80 as they launch their biggest runs.
Risk Management In The Stock Market: How Much Money To Invest Now
CareDx is now considered extended and out of buy range after clearing a 17.03 buy point in a second-stage consolidation. 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.
CareDx showed 0% earnings growth in the latest quarterly report. Revenue increased 32%.
The company holds the No. 12 rank among its peers in the Medical-Products industry group. Boston Scientific, Pro-Dex and Penumbra are among the top 5 highly rated stocks 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.
RELATED:
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!
