In a welcome move, Edwards Lifesciences saw its Relative Strength Rating improve from 69 to 72 on Friday.
When you're researching the best stocks to buy and watch, be sure to pay attention to relative price strength.
This unique rating measures market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks compares to the rest of the market.
History shows that the best stocks typically have an RS Rating north of 80 as they launch their largest climbs. See if Edwards Lifesciences can continue to show renewed price strength and clear that threshold.
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While the stock is not near an ideal buy point right now, it at least has cleared key moving averages, which is a positive sign. Now we wait to see if it is able to form and break out from a proper chart pattern.
EW Earnings
While earnings growth dropped in the prior quarter from 25% to 3%, sales rose 9%, up from 1% in the previous report. Look for the next report on or around Jul. 27.
Edwards Lifesciences earns the No. 11 rank among its peers in the Medical-Products industry group. Penumbra and Lantheus Holdings are also among the group's highest-rated stocks.
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