Abbott Laboratories saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, rising from 77 to 81.
This exclusive rating from Investor's Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
History shows that the best-performing stocks often have an RS Rating north of 80 in the early stages of their moves.
Hone Your Stock-Picking Skills By Focusing On These Factors
Abbott Laboratories has moved more than 5% past a 121.00 entry in a first-stage flat base, meaning it's now out of a proper buy zone. Look for the stock to offer a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week line.
Taking a look at revenue and profit performance, Abbott Laboratories has posted rising EPS growth in each of the last three reports. Sales growth has also increased during the same period.
Abbott Laboratories earns the No. 2 rank among its peers in the Medical-Diversified industry group. Eli Lilly is the No. 1-ranked stock within the group.
RELATED:
Which Stocks Are Showing Improved Price Performance?
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!
