Cencora had its Relative Strength (RS) Rating upgraded from 80 to 86 Tuesday.
This proprietary rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks matches up against that of all other stocks.
Over 100 years of market history reveals that the best-performing stocks often have an RS Rating north of 80 as they begin their biggest price moves.
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The stock, which is on the IBD Big Cap 20 screen, broke out earlier, but has fallen back below the prior 262.25 entry from a flat base. If a stock you're watching breaks past a buy point then declines 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new consolidation and breakout. Also understand that the latest consolidation is a later-stage base, and such bases are more prone to failure.
The company reported 14% EPS growth in its most recent report, while sales growth came in at 13%.
The company earns the No. 1 rank among its peers in the Medical-Wholesale Drugs industry group. McKesson and Cardinal Health are also among the group's highest-rated stocks.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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