On Monday, Recursion Pharma (RXRX) stock cleared an important performance benchmark, with its Relative Strength (RS) Rating jumping into the 80-plus percentile with an upgrade to 89, up from 76 the day before.
XWhen looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This unique rating measures technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the trailing 52 weeks matches up against that of all other stocks.
Decades of market research reveals that the best-performing stocks typically have an 80 or higher RS Rating in the early stages of their moves.
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Is Recursion Pharma Stock A Buy?
Recursion Pharma stock dipped below its 50-day moving average on Monday, but it's managed to keep afloat above its 200-day moving average. While the biotech stock is not near a proper buy zone right now, see if it is able to form and break out from a proper base.
While the biotech company's bottom line growth decreased in the company's most recent quarterly report from 0% to -22%, the top line rose 201%, up from 108% in the prior report.
Recursion Pharma stock holds the No. 159 rank among its peers in the Medical-Biomed/Biotech industry group. Vertex Pharmaceuticals (VRTX) and Amphastar Pharmaceuticals (AMPH) are also among the group's highest-rated stocks. For industry news, check out "Biotech And Pharmaceutical Industry And Stock News."
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The post Recursion Pharma Stock Earns Relative Strength Rating Upgrade; Hits Key Benchmark appeared first on Investor's Business Daily.
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