NewMarket saw a welcome improvement to its Relative Strength (RS) Rating on Monday, rising from 80 to 85.
IBD's unique RS Rating identifies technical performance by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research reveals that the best stocks typically have an 80 or higher RS Rating in the early stages of their moves.
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NewMarket is building a cup with handle with a 574.74 buy point. See if it can clear the breakout price in heavy trade. Keep in mind that it's a later-stage consolidation, and those are riskier than earlier-stage patterns.
While the company's top line growth fell last quarter from 9% to 2%, EPS grew 38%, up from 19% in the previous report. The company is expected to report its latest earnings and sales numbers on or around Apr. 23.
NewMarket holds the No. 1 rank among its peers in the Chemicals-Specialty industry group. Linde and WD-40 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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