Novocure Stock Gets Relative Strength Rating Upgrade, Then Drops 30%

Sep 22, 2023

On Tuesday, Novocure (NVCR) received a positive adjustment to its Relative Strength (RS) Rating, from 63 to 79 based on previous day trading. Then news broke and the bottom fell out.

When looking for the best stocks to buy and watch, Always keep a close on eye on relative price strength. And remember to look before you buy.

IBD's proprietary RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks compares to other publicly traded companies.

History reveals that the best stocks tend to have an RS Rating north of 80 as they launch their largest price moves. See if Novocure can continue to rebound and hit that benchmark.

Looking For The Best Stocks To Buy And Watch? Start Here

Now is definitely not an ideal time to jump in since it isn't near a proper buy zone, and with the latest news hitting, time to step back and wait. Read Allison Gatlin's article for all the details on the stock crashing 30%.

Novocure posted 0% EPS growth last quarter. Sales increased -11%.

The company holds the No. 71 rank among its peers in the Medical-Products industry group. Penumbra (PEN) and DexCom (DXCM) are also among the group's highest-rated stocks.

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