On Tuesday, Novocure[ticker symb=NVCR] stock got a positive adjustment to its Relative Strength (RS) Rating, from 73 to 96. The oncology company had some good news Monday announcing success in its pancreatic cancer study.
IBD's unique RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the trailing 52 weeks matches up against all other stocks in our database.
History shows that the market's biggest winners often have an RS Rating north of 80 in the early stages of their moves.
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Is Novocure Stock A Buy?
Novocure stock broke out on Monday and has climbed more than 5% past a 24.73 entry in a second-stage consolidation, meaning it's now out of a proper buy range. Look for the stock to create a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The medical device maker showed 0% earnings growth in its most recent report, while sales growth came in at 22%.
Novocure stock earns the No. 16 rank among its peers in the Medical-Products industry group. LeMaitre Vascular, Globus Medical and Insulet are among the top 5 highly rated stocks within the group.
