On Monday, Vir Biotechnology reached an important technical milestone, with its Relative Strength (RS) Rating entering into the 80-plus percentile with an upgrade to 83, an increase from 71 the day before.
When you're researching the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's unique rating measures share price performance with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the last 52 weeks stacks up against all the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains tend to have an 80 or better RS Rating in the early stages of their moves.
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While Vir Biotechnology is not near an ideal buy point right now, see if it manages to form and break out from a proper consolidation. It had formed a cup with handle last month but was never able to move solidly past the pivot point. Last Friday was a huge volume day to the positive, while today it has given up most of those gains.
Earnings Update
Vir Biotechnology saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 0% to 59%. Revenue rose from -123% to 261%.
The company earns the No. 48 rank among its peers in the Medical-Biomed/Biotech industry group. Genmab ADR and Vertex Pharmaceuticals are also among the group's highest-rated stocks.
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