On Tuesday, ResMed earned a positive adjustment to its Relative Strength (RS) Rating, from 74 to 81.
This proprietary rating tracks technical performance by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
History shows that the stocks that go on to make the biggest gains tend to have an 80 or better RS Rating as they begin their biggest runs.
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The IBD 50 stock is working on a consolidation with a 263.05 entry. See if the stock can clear the breakout price in volume at least 40% higher than normal.
ResMed reported 29% EPS growth in its most recent report, while sales growth came in at 10%.
ResMed earns the No. 4 rank among its peers in the Medical-Products industry group. Boston Scientific is the No. 1-ranked stock 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.
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