On Friday, Middlesex Water hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 94, up from 90 the day before.
This exclusive rating from Investor's Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the last 52 weeks stacks up against all the other stocks in our database.
Decades of market research reveals that the top-performing stocks often have an RS Rating of at least 80 in the early stages of their moves.
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Middlesex Water is still inside a buying range after breaking past a 65.60 buy point in a cup with handle. The proper buying range extends to 5% above the initial entry. Once a stock hits that benchmark, it's best to wait for it to set up another buying opportunity..
The stock's relative strength line is in new high ground, which is a bullish indicator of market leadership.
In terms of fundamentals, Middlesex Water has posted rising EPS growth over the last two quarters. Top line growth has also increased during the same period.
Middlesex Water earns the No. 1 rank among its peers in the Utility-Water Supply industry group. SABESP ADR and American Water Works are also among the group's highest-rated stocks.
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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