On Thursday, Ingredion cleared a noteworthy technical benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 83, up from 80 the day before.
This proprietary rating tracks technical performance by showing how a stock's price movement over the last 52 weeks compares to that of other stocks on the major indexes.
History shows that the market's biggest winners often have an 80 or better RS Rating as they launch their biggest price moves.
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Ingredion is not currently showing a potential buy point. See if the stock goes on to form a base that could spark a new run.
The company saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 31% to 34%. Revenue rose from -8% to -6%. Look for the next report on or around Apr. 30.
The company holds the No. 1 rank among its peers in the Food-Grain & Related industry group. Andersons and Archer Daniels Midland are also among the group's highest-rated stocks.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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