In a welcome move, Penumbra saw its Relative Strength Rating improve from 68 to 78 on Thursday.
This unique rating identifies technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the trailing 52 weeks compares to other publicly traded companies.
Over 100 years of market history shows that the best-performing stocks tend to have an RS Rating of at least 80 as they launch their largest climbs. See if Penumbra can continue to rebound and clear that threshold.
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Penumbra is now considered extended and out of buy range after clearing a 211.19 buy point in a first-stage flat base. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Penumbra showed 27% earnings growth in its most recent report. Sales gains came in at 11%.
Penumbra earns the No. 4 rank among its peers in the Medical-Products industry group. Globus Medical is the top-ranked stock within the group.
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