As markets remain shaky, technical analysis helps investors find good stock opportunities. Using TipRanks’ Technical Analysis Screener, we have identified three stocks, Viking Therapeutics (VKTX), Arcellx (ACLX), and Jazz Pharmaceuticals (JAZZ), that are currently flashing Strong Buy signals. These stocks are showing bullish momentum and present short- to mid-term upside potential, backed by Strong Buy ratings from Wall Street analysts.
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Notably, technical analysis studies a stock’s past price movements and trading volume to predict future trends. It uses tools like moving averages, RSI, and chart patterns to identify Buy or Sell signals. Within this context, TipRanks’ Technical Analysis tool simplifies this process by combining multiple indicators into one easy-to-understand dashboard for users. Let’s dive into the details.
Is Viking Therapeutics a Good Stock to Buy?
Viking Therapeutics is a biopharmaceutical company focused on developing innovative treatments for patients with metabolic and hormone-related disorders.
According to TipRanks’ technical analysis, VKTX stock is currently in an upward trend. It holds a Strong Buy rating based on both overall technical consensus and moving average indicators. One key indicator, the Rate of Change (ROC), which tracks momentum by measuring the percentage change in price over a set period, currently stands at 10.7 for VKTX. Since an ROC above zero suggests upward momentum, this signals a Buy for the stock.
Is ACLX a Buy?
Arcellx, Inc. is a biotech company developing advanced cell therapies to treat cancer and other difficult diseases.
According to TipRanks’ technical analysis, ACLX stock holds a Strong Buy consensus, backed by 16 bullish, four neutral, and two bearish signals. The stock also holds a Strong Buy rating based on moving average consensus, supported by all 12 bullish signals, indicating strong upward momentum.
Is Jazz Pharmaceuticals a Good Stock to Buy?
Jazz Pharmaceuticals is focused on developing and marketing specialty medicines for neurology, sleep disorders, and cancer.
From a technical analysis perspective, JAZZ is rated a Strong Buy. It also earns a Strong Buy signal based on the moving average consensus. Additionally, the Williams %R, a tool that signals whether a stock is overbought or oversold, also shows a Buy signal for JAZZ.