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Investors Business Daily
Investors Business Daily
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INVESTOR'S BUSINESS DAILY

Stocks To Watch: Rhythm Pharmaceuticals Sees Relative Strength Rating Jump To 93

On Wednesday, Rhythm Pharmaceuticals reached an important technical milestone, with its Relative Strength (RS) Rating jumping into the 90-plus percentile with an improvement to 93, a rise from 90 the day before.

IBD's proprietary RS Rating tracks market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.

Decades of market research shows that the best stocks typically have an 80 or higher RS Rating at the beginning of a new climb.

How To Use Stock Charts To Stay Profitable And Protected

The IBD 50 stock is now considered extended and out of buy range after clearing a 55.64 buy point in a first-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.

Rhythm Pharmaceuticals posted 0% EPS growth in the latest quarterly report, while sales growth came in at 48%.

The company holds the No. 66 rank among its peers in the Medical-Biomed/Biotech industry group. ADMA Biologics, Exelixis and Halozyme Therapeutics are among the top 5 highly rated stocks within the group.

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