On Tuesday, Organon stock hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 91, up from 88 the day before.
IBD's unique rating identifies price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the trailing 52 weeks holds up against all the other stocks in our database.
History shows that the best stocks often have an RS Rating north of 80 as they launch their biggest runs.
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Is Organon Stock A Buy?
While Organon stock is not near a proper entry right now, see if the drug stock goes on to form and break out of a proper base. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The generic drug maker showed -15% earnings growth last quarter, while sales growth came in at 0%.
Organon earns the No. 6 rank among its peers in the Medical-Generic Drugs industry group. Collegium Pharmaceutical, Teva Pharmaceutical ADR and Dr. Reddy's Labs ADR are among the top 5 highly rated stocks within the group.
