Stryker had its Relative Strength (RS) Rating upgraded from 68 to 76 Monday — a welcome improvement, but still below the 80 or better score you prefer to see.
IBD's unique rating identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
Decades of market research reveals that the best stocks often have an RS Rating of above 80 as they begin their largest climbs. See if Stryker can continue to rebound and clear that threshold.
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Stryker broke out earlier, but has fallen back below the prior 371.17 entry from a cup with handle. In the scenario where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new base to form. Also keep in mind that the most recent pattern is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
Stryker saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 11% to 17%. Revenue rose from 9% to 12%.
The company earns the No. 13 rank among its peers in the Medical-Products industry group. LeMaitre Vascular, Bioventus and Insulet are among the top 5 highly rated stocks within the group.
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