On Wednesday, Vericel hit a key technical benchmark, with its Relative Strength (RS) Rating rising into the 80-plus percentile with an upgrade to 83, up from 78 the day before.
This exclusive rating from Investor's Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
History reveals that the market's biggest winners typically have an RS Rating of above 80 as they begin their biggest price moves.
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Vericel is now considered extended and out of buy range after clearing a 50.00 buy point in a first-stage double bottom. 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 line.
Vericel posted 0% EPS growth in the latest quarterly report, while sales growth came in at 27%.
The company earns the No. 23 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.
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