On Tuesday, Flowserve stock hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 82, up from 77 the day before.
IBD's proprietary RS Rating tracks technical performance by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains typically have an RS Rating north of 80 as they begin their biggest price moves.
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Is Flowserve Stock A Buy?
Flowserve stock is trying to complete a flat base with a 50.49 entry. See if the stock can clear the breakout price in volume at least 40% above average. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
Earnings growth rose last quarter from 8% to 45%, but the top line fell from 12% to 11%. Keep an eye out for the company's next round of numbers on or around Jul. 29.
Flowserve stock holds the No. 5 rank among its peers in the Machinery-General Industrial industry group. SPX Technologies is the No. 1-ranked stock within the group.
