On Thursday, Karuna Therapeutics (KRTX) reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 84, up from 72 the day before.
X When you're researching the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's unique rating identifies share price action with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the last 52 weeks compares to all the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains often have an RS Rating of over 80 as they launch their biggest runs.
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Karuna Therapeutics is now considered extended and out of buy range after clearing a 144.53 buy point in a first-stage double bottom. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
The company posted 0% earnings growth last quarter, while sales growth came in at -86%.
Karuna Therapeutics earns the No. 292 rank among its peers in the Medical-Biomed/Biotech industry group. Amphastar Pharm (AMPH) and Vertex Pharmaceuticals (VRTX) are also among the group's highest-rated stocks.
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