On Friday, Castle Biosciences hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 85, up from 77 the day before.
This exclusive rating from Investor's Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the last 52 weeks compares to all the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains often have an 80 or better RS Rating in the early stages of their moves.
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Castle Biosciences is now considered extended and out of buy range after clearing a 25.91 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.
The company showed 0% earnings growth last quarter, while sales growth came in at 40%.
Castle Biosciences holds the No. 3 rank among its peers in the Medical-Services industry group. Hims & Hers Health is the No. 1-ranked stock within the group.
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