Drug and health products giant Novartis (NVS) got a shot in the arm as its Relative Strength (RS) Rating jumped to a higher percentile Tuesday, rising to 73, up from 63 the day before. It's been rising since it reported better than expected earnings on Jan. 31. It continues to rise despite the current market correction.

Highly ranked Novartis is forming the right side of a long cup base with a buy point of 120.92. And it's literally running higher. The 120.92 buy point is the starting point for the cup base. The stock dipped to 96.06 on Dec. 20, forming the bottom of the cup, and turned upward energetically.

When To Sell Stocks To Lock In Profits And Minimize Losses

Tuesday afternoon NVS stock was on track for a fourth higher close in a row. It traded at XX, XX for the day and XX from the December bottom of the cup. With U.S. markets in turmoil amid a brewing tariffs war, inflation and economic uncertainty, this highly rated Swiss drugmaker's stock might provide a safe haven.

Novartis earnings and revenue growth both accelerated last quarter. Earnings were up 29% last quarter, to $1.98 per share. That improved on its 18% rise in the prior report. Revenue  grew 15% to $13.6 billion, up from a 9% gain.

Novartis develops and markets branded and generic drugs, as well as consumer health products, vaccines and diagnostics. Its stock earns the No. 2 rank among its peers in the 33-stock Medical-Ethical Drugs industry group. Phibro Animal Health (PAHC) is the No. 1-ranked stock in the group.

Among its other ratings, Novartis boasts an 89 EPS Rating out of 99. Its 93 Composite Rating puts it in the top 7% of stocks overall, regardless of the industry. And its B+ Accumulation/Distribution Rating, on an A+ to E scale, shows that ETFs, insurance funds and the like are fairly avid buyers of its stock.

IBD's proprietary RS Rating tracks market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database. Decades of market research shows that the best-performing stocks typically have an RS Rating of above 80 in the early stages of their moves. See if Novartis can continue to show renewed price strength and clear that threshold.

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.

Please follow James DeTar on Twitter @JimDeTar

RELATED:

Biotech And Pharmaceutical Industry And Stock News

IBD Stock Rating Upgrades: Rising Relative Strength

Why Should You Use IBD's Relative Strength Rating?

How Relative Strength Line Can Help You Judge A Stock

Ready To Grow Your Investing Skills? Join An IBD Meetup Group!