On Thursday, Emerson Electric hit a noteworthy performance benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 82, up from 77 the day before.
IBD's unique rating tracks share price performance with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the last 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the stocks that go on to make the biggest gains typically have an 80 or higher RS Rating as they begin their biggest runs.
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Emerson Electric is now considered extended and out of buy range after clearing a 112.77 buy point in a first-stage cup with handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Earnings grew 15% last quarter, up from 11% in the prior report. Revenue also increased, from 11% to 13%.
Emerson Electric earns the No. 4 rank among its peers in the Diversified Operations industry group. Crane is the No. 1-ranked stock within the group.
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