On Wednesday, Axsome Therapeutics reached an important technical milestone, with its Relative Strength (RS) Rating jumping into the 80-plus percentile with an improvement to 85, a rise from 70 the day before.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This unique rating tracks technical performance by showing how a stock's price movement over the last 52 weeks measures up against that of other stocks on the major indexes.
History reveals that the stocks that go on to make the biggest gains typically have an 80 or higher RS Rating as they launch their biggest price moves.
Looking For The Best Stocks To Buy And Watch? Start Here
Axsome Therapeutics is now considered extended and out of buy range. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or more familiar pattern. Market volatility is key, however.
Axsome Therapeutics stock reported -32% EPS growth last quarter. Sales increased 0%.
Axsome Therapeutics holds the No. 105 rank among its peers in the Medical-Biomed/Biotech industry group. Pacira Pharmaceuticals and Regeneron Pharmaceutical are also among the group's highest-rated stocks.
