On Tuesday, Establishment Labs Hldgs reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 85, up from 76 the day before.
IBD's proprietary rating identifies share price movement 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 shows that the stocks that go on to make the biggest gains tend to have an 80 or better RS Rating in the early stages of their moves.
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Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock manages to offer and clear an appropriate buy point.
The company showed 0% earnings growth last quarter, while sales growth came in at -9%. The company is expected to report its latest performance numbers on or around Nov. 7.
The company holds the No. 46 rank among its peers in the Medical-Products industry group. LeMaitre Vascular, Bioventus and Lantheus Holdings are among the top 5 highly rated stocks within the group.
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