On Thursday, HealthEquity hit a noteworthy technical benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 84, up from 79 the day before.
IBD's proprietary rating identifies price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains tend to have an RS Rating north of 80 as they begin their biggest climbs.
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HealthEquity has moved more than 5% past an 88.26 entry in a first-stage consolidation, meaning it's now out of a proper buy range. Look for the stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week line.
The company posted 30% earnings growth in the latest quarterly report, while sales growth came in at 21%.
The company holds the No. 3 rank among its peers in the Commercial Services-Outsourcing industry group. ExlService Holdings is the No. 1-ranked stock within the group.
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