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On Monday, Nuvalent (NUVL) earned a positive adjustment to its Relative Strength (RS) Rating, from 65 to 73. IBD's proprietary RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the trailing 52 weeks stacks up against all the other stocks in our database. Decades of market research shows that the best stocks often have an 80 or better RS Rating as they begin their biggest price moves. See if Nuvalent can continue to show renewed price strength and hit that benchmark. Nuvalent has moved more than 5% past an 86.83 entry in a first-stage cup without handle, meaning it's now out of a proper buy zone. Look for the stock to create a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week line. Nuvalent posted 0% earnings growth in its most recent report, while sales growth came in at 0%. Look for the next report on or around Nov. 6. Nuvalent holds the No. 289 rank among its peers in the Medical-Biomed/Biotech industry group. argenx ADR (ARGX), Aurinia Pharmaceuticals (AUPH) and Halozyme Therapeutics (HALO) are among the top 5 highly rated stocks within the group. This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
