On Friday, nVent Electric received an upgrade to its Relative Strength (RS) Rating, from 77 to 81.
This exclusive rating from Investor's Business Daily identifies price action with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
History reveals that the market's biggest winners often have an RS Rating north of 80 as they launch their biggest climbs.
Looking For The Best Stocks To Buy And Watch? Start Here
nVent Electric is trying to complete a cup with handle with a 76.36 buy point. See if the stock can break out in volume at least 40% higher than normal. Keep in mind that it's a later-stage consolidation, and those are riskier than earlier-stage patterns.
nVent Electric showed 6% EPS growth in its most recent report, while sales growth came in at 9%. The company is expected to report its latest numbers on or around Nov. 1.
nVent Electric holds the No. 6 rank among its peers in the Electrical Power/Equipment industry group. Vertiv Holdings, American Superconductor and Powell Industries are among the top 5 highly rated stocks within the group.
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!
