The Relative Strength (RS) Rating for Penumbra moved into a new percentile Tuesday, as it got a lift from 63 to 73.
IBD's unique RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the trailing 52 weeks matched up against all other stocks.
History reveals that the best-performing stocks tend to have an 80 or higher RS Rating in the early stages of their moves. See if Penumbra can continue to show renewed price strength and clear that threshold.
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Penumbra is now considered extended and out of buy range after clearing a 211.19 buy point in a first-stage flat base. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company showed 27% earnings growth last quarter, while sales growth came in at 11%.
The company earns the No. 4 rank among its peers in the Medical-Products industry group. Globus Medical is the top-ranked stock within the group.
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