In a welcome move, Bristol Myers Squibb saw its Relative Strength Rating improve from 70 to 76 on Tuesday.
IBD's proprietary RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matched up against all other stocks.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains tend to have an 80 or higher RS Rating in the early stages of their moves. See if Bristol Myers Squibb can continue to show renewed price strength and hit that benchmark.
When To Sell Stocks To Lock In Profits And Minimize Losses
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock is able to offer and clear a proper buy point.
The company showed -10% earnings growth in the latest quarterly report, while sales growth came in at 8%.
Bristol Myers Squibb holds the No. 2 rank among its peers in the Medical-Ethical Drugs industry group. Phibro Animal Health is the No. 1-ranked stock within the group.
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