On Tuesday, Virgin Galactic Holdings (SPCE) hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 87, up from 77 the day before. The volatile space stock has pulled back in recent weeks following Jeff Bezo’s space company Blue Origin successfully completed its first crewed flight. Virgin Atlantic’s July 12 announcement of additional stock sale may have also added to recent selloff.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This proprietary rating measures technical performance by showing how a stock’s price action over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research shows that the market’s biggest winners tend to have an 80 or higher RS Rating as they begin their biggest runs.
While now is not an ideal time to jump in, see if the stock is able to establish and enter a buy zone in heavy volume. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips. Also, check out “Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks.”
In terms of revenue and profits, the company has posted four quarters of increasing earnings growth. Sales gains have been a different story, coming in at -100% in the most recent report. Virgin Galactic Holdings is expected to report its next quarterly numbers on or around Aug. 3.
Virgin Galactic Holdings stock earns the No. 26 rank among its peers in the Aerospace/Defense industry group. L3Harris (LHX) and Northrop Grumman (NOC) are also among the group’s highest-rated stocks. For more industry news, check out “Defense And Aerospace Stocks To Watch And Industry News.”
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