Solventum saw a welcome improvement to its Relative Strength (RS) Rating on Wednesday, rising from 85 to 92.
IBD's unique rating identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the trailing 52 weeks compares to all the other stocks in our database.
Decades of market research shows that the market's biggest winners typically have an RS Rating north of 80 in the early stages of their moves.
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Solventum has climbed more than 5% past a 76.80 entry in a first-stage cup with handle, meaning it's now out of a proper buy range. 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 reported -43% EPS growth last quarter. Sales rose 0%. Keep an eye out for the company's next round of numbers on or around Feb. 27.
The company earns the No. 23 rank among its peers in the Medical-Products industry group. Boston Scientific, Axogen and LeMaitre Vascular are among the top 5 highly rated stocks within the group.
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