On Tuesday, Labcorp Holdings got a positive adjustment to its Relative Strength (RS) Rating, from 69 to 72.
IBD's proprietary RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the trailing 52 weeks compares to the rest of the market.
Over 100 years of market history shows that the best stocks often have an RS Rating of at least 80 in the early stages of their moves. See if Labcorp Holdings can continue to rebound and hit that benchmark.
Can You Really Time The Stock Market?
Labcorp Holdings broke out earlier, but has fallen back below the prior 247.99 entry from a cup without handle. If a stock you're tracking clears a buy point then declines 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new chart pattern and entry price. Also keep in mind that the most recent pattern is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
Labcorp Holdings saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 4% to 5%. Revenue rose from 7% to 10%.
Labcorp Holdings holds the No. 14 rank among its peers in the Medical-Services industry group. Hims & Hers Health, Option Care Health and Guardant Health are among the top 5 highly rated stocks within the group.
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