On Friday, Novanta stock earned an upgrade to its Relative Strength (RS) Rating, from 64 to 84.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This unique rating identifies market leadership by showing how a stock's price movement over the last 52 weeks compares to that of other stocks on the major indexes.
Decades of market research reveals that the stocks that go on to make the biggest gains often have an RS Rating north of 80 as they begin their biggest price moves.
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Is Novanta Stock A Buy?
Novanta stock is approaching a 158.48 entry point from a cup-shaped pattern. See if the stock rallies higher on above-average volume. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The company reported 8% EPS growth in the latest quarterly report, while sales growth came in at 25%.
Novanta stock holds the No. 2 rank among its peers in the Electronics-Scientific Measuring industry group. Keysight Technologies and Novanta are also among the group's highest-rated stocks.
