On Tuesday, Casella Waste Sys Cl A reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 82, up from 78 the day before.
IBD's proprietary rating identifies price action with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
Decades of market research reveals that the best stocks tend to have an 80 or higher RS Rating as they launch their biggest price moves.
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Casella Waste Sys Cl A broke out earlier, but has fallen back below the prior 114.88 entry from a flat base. In the case where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new base to take shape. Also understand that the most recent pattern is a later-stage base, and those involve more risk.
Casella Waste Sys Cl A saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -23% to 41%. Revenue rose from 17% to 19%.
Casella Waste Sys Cl A holds the No. 7 rank among its peers in the Pollution-Control industry group. Aris Water Solutions, Republic Services and Waste Connections are among the top 5 highly rated stocks within the group.
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.
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