NewMarket saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, with an increase from 62 to 74.
IBD's proprietary rating measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history shows that the market's biggest winners typically have an RS Rating of at least 80 in the early stages of their moves. See if NewMarket can continue to show renewed price strength and hit that benchmark.
Can You Really Time The Stock Market?
NewMarket is trying to complete a cup with handle with a 574.74 buy point. See if the stock can clear the breakout price in volume at least 40% higher than normal. Note that it's a third-stage base. Such patterns can work and do sometimes launch nice runs, but, statistically, they're more likely to fail than first- or second-stage consolidations.
Earnings growth increased in the company's most recent report from 19% to 38%, but sales fell from 9% to 2%. The next quarterly numbers are expected on or around Apr. 23.
The company earns the No. 2 rank among its peers in the Chemicals-Specialty industry group. NewMarket is the No. 1-ranked stock within the group.
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.
RELATED:
IBD Stock Rating Upgrades: Rising Relative Strength
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
