Top-ranked Belden makes the connecting parts that enable communications networks including for 5G, Internet of Things and cybersecurity. It's an essential industry supplier and It's no surprise that it keeps posting double- and even triple-digit sales and profit growth. On Thursday, Belden's Relative Strength (RS) Rating shot up to 80 from 66 the day before as Belden stock crossed above its 200-day line.
The new 80 RS Rating means that Belden stock has outperformed 80% of all stocks over the past year. It's a notable change because market research shows that the market's biggest winners often have an RS Rating north of 80 as they begin their biggest climbs.
Belden Stock Rises On Strong Profits
The company posted 47% earnings growth in its most recent report, to $1.32 per share. The prior three quarters its EPS grew 40%, 163% and 82%. Sales last quarter grew 28% to $638.9 million.
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Belden stock is building a consolidation with a 68.97 entry. See if the stock can break out in volume at least 40% higher than normal. It's a later-stage pattern, and investors should be aware that those involve more risk.
Belden stock earns the No. 1 rank among its peers in the Telecom-Cable/Satellite Equipment industry group. Adtran and EchoStar are also among the top five companies in the group.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique Relative Strength Rating measures market leadership by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
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