One important metric to look for in a stock is an 80 or higher Relative Strength Rating. AstraZeneca now clears that threshold, with a jump from 80 to 85 Thursday.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's unique rating identifies price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the last 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history reveals that the best stocks typically have an RS Rating of above 80 in the early stages of their moves.
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AstraZeneca ADR is still within a buy range after breaking past a 72.22 buy point in a flat base. The proper buying range extends to 5% above the initial entry. Once a stock hits that benchmark, it's best to hold off investing and wait for it to set up another buying opportunity. Note below that earnings are just around the corner.
Earnings Preview
The company posted negative growth for both the top and bottom lines last quarter. AstraZeneca ADR is expected to report its next quarterly numbers on or around Apr. 27.
The company earns the No. 1 rank among its peers in the Medical-Diversified industry group.
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