When looking for the best stocks to buy and watch, focus on those with rising relative price strength. One stock that fits that bill is Health Catalyst (HCAT), which had its Relative Strength (RS) Rating upgraded from 79 to 82 Monday.
As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength.
This exclusive rating from Investor’s Business Daily measures share price performance with a 1 (worst) to 99 (best) score. The score shows how a stock’s price behavior over the trailing 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history shows that the market’s biggest winners typically have an 80 or better RS Rating as they launch their biggest climbs.
Health Catalyst broke out earlier, but is now trading approximately 4% below the prior 55.17 entry from a cup without handle. If a stock you’re tracking clears a buy point then falls 7% or more below the original entry price, it’s considered a failed base. Wait for the stock to set up and breakout from a new chart pattern and entry price. Also keep in mind that the latest consolidation is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
In terms of top and bottom line numbers, Health Catalyst has posted rising EPS growth over the last two quarters. Top line growth has also increased during the same period.
Health Catalyst holds the No. 5 rank among its peers in the Computer Software-Medical industry group. Allscripts Healthcare Solutions (MDRX) and Optimizerx (OPRX) are also among the group’s highest-rated stocks.
YOU MIGHT ALSO LIKE: