In a welcome move, Kadant saw its Relative Strength Rating rise from 61 to 79 on Tuesday.
This proprietary rating measures market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
History reveals that the best stocks often have an RS Rating north of 80 in the early stages of their moves. See if Kadant can continue to rebound and clear that threshold.
Can You Really Time The Stock Market?
Kadant is trying to complete a cup without handle with a 429.95 buy point. See if it can break out in heavy trade. It's a later-stage pattern, and investors should be aware that those are less likely to lead to significant gains.
Kadant reported -7% earnings growth in the latest quarterly report, while sales growth came in at 8%.
The company holds the No. 20 rank among its peers in the Machinery-General Industrial industry group. ESCO Technologies, DXP Enterprises and Badger Meter are among the top 5 highly rated stocks within the group.
RELATED:
Which Stocks Are Showing Improved Price Performance?
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!
