Blue Bird had its Relative Strength (RS) Rating upgraded from 74 to 81 Monday.
This proprietary rating measures market leadership by showing how a stock's price action over the last 52 weeks measures up against that of other stocks on the major indexes.
Over 100 years of market history reveals that the market's biggest winners typically have an RS Rating north of 80 as they launch their biggest climbs.
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Blue Bird is now considered extended and out of buy range after clearing a 28.39 buy point in a third-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 line.
Earnings growth slowed last quarter from 107% to 17%. But revenue moved higher, from 13% to 16%. Look for the next report on or around Feb. 5.
The company earns the No. 4 rank among its peers in the Transportation-Equipment Manufacturing industry group. Wabtec is the top-ranked stock within the group.
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