Penumbra saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, with an increase from 69 to 73.
IBD's unique rating identifies price movement with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
Over 100 years of market history shows that the best-performing stocks typically have an RS Rating north of 80 as they launch their biggest climbs. See if Penumbra can continue to show renewed price strength and clear that threshold.
Can You Really Time The Stock Market?
Penumbra has moved more than 5% past a 211.19 entry in a first-stage flat base, meaning it's now out of a proper buy zone. Look for the stock to create a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company posted 27% earnings growth in the latest quarterly report. Revenue gains came in at 11%.
Penumbra earns the No. 5 rank among its peers in the Medical-Products industry group. LeMaitre Vascular is the No. 1-ranked stock within the group.
RELATED:
Which Stocks Are Showing 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!
