On Tuesday, Corteva reached a noteworthy technical benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 81, up from 78 the day before.
IBD's proprietary RS Rating identifies technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks matches up against that of all other stocks.
Decades of market research reveals that the market's biggest winners tend to have an 80 or better RS Rating in the early stages of their moves.
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Corteva is still inside a buy zone after clearing a 64.20 buy point in a cup without handle. Once a stock moves 5% or higher beyond the original entry, it's considered out of a proper buy zone.
Top and bottom line growth moved higher last quarter. Earnings were up 113%, compared to 0% in the prior report. Revenue increased from -10% to 7%.
The company earns the No. 1 rank among its peers in the Agricultural Operations industry group. Mission Produce and CEA Industries are also among the group's highest-rated stocks.
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