In a welcome move, ResMed saw its Relative Strength Rating rise from 65 to 78 on Tuesday.
This unique rating tracks market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the last 52 weeks matched up against all other stocks.
Decades of market research shows that the market's biggest winners often have an RS Rating of above 80 in the early stages of their moves. See if ResMed can continue to show renewed price strength and hit that benchmark.
Can You Really Time The Stock Market?
ResMed is not currently near a potential buy zone. See if the stock goes on to form a chart pattern that could spark a new run.
The company showed 29% EPS growth last quarter, while sales growth came in at 10%. The company is expected to report its latest numbers on or around Apr. 23.
ResMed holds the No. 7 rank among its peers in the Medical-Products industry group. Boston Scientific, Pro-Dex and Axogen are among the top 5 highly rated stocks 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:
Stocks With Rising Relative Strength Ratings
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!
