One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Madrigal Pharmaceuticals cleared that benchmark Tuesday, with a jump from 76 to 83 Tuesday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique RS Rating measures technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research shows that the stocks that go on to make the biggest gains often have an RS Rating of above 80 in the early stages of their moves.
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Madrigal Pharmaceuticals is building a flat base with a 245.31 entry. For some reason the stock gapped down hard today, and is currently down 34%. It is off the low of the day, but still has a long way to go. Best to wait and see what is the root cause for the drop.
MDGL Earnings
The company posted 0% earnings growth in its most recent report. Revenue increased 0%. The next quarterly numbers are expected on or around Feb. 22.
The company earns the No. 248 rank among its peers in the Medical-Biomed/Biotech industry group. Alkermes and Immunogen are also among the group's highest-rated stocks.
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