One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Veracyte now clears that threshold, with a jump from 67 to 81 Monday.
This unique rating measures market leadership by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains tend to have an RS Rating of at least 80 as they begin their biggest climbs.
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While Veracyte is not near an ideal entry right now, see if it goes on to form and break out of a proper base.
The company posted 71% EPS growth in the latest quarterly report. Revenue gains came in at 21%.
The company holds the No. 2 rank among its peers in the Medical-Research Equipment/Services industry group. Veracyte is the top-ranked stock 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.
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