Novocure saw a welcome improvement to its Relative Strength (RS) Rating on Monday, with an upgrade from 67 to 73.
This exclusive rating from Investor's Business Daily measures market leadership 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.
Decades of market research shows that the top-performing stocks tend to have an 80 or better RS Rating in the early stages of their moves. See if Novocure can continue to rebound and hit that benchmark.
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Novocure has moved more than 5% past a 16.05 entry in a first-stage double bottom, meaning it's now out of a proper buy range. Look for the stock to offer a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company reported 0% EPS growth in the latest quarterly report, while sales growth came in at 22%.
Novocure holds the No. 28 rank among its peers in the Medical-Products industry group. LeMaitre Vascular, Globus Medical and Pro-Dex are among the top 5 highly rated stocks within the group.
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