On Wednesday, Enerpac Tool Group hit a noteworthy technical benchmark, with its Relative Strength (RS) Rating entering into the 80-plus percentile with an upgrade to 85, up from 80 the day before.
IBD's proprietary rating measures price action with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the trailing 52 weeks stacks up against all the other stocks in our database.
Decades of market research reveals that the market's biggest winners tend to have an 80 or better RS Rating as they begin their biggest runs.
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Enerpac Tool Group is trying to complete a cup with handle with a 47.47 entry. See if it can clear the breakout price in volume at least 40% above average. Keep in mind that it's a later-stage consolidation, and those are riskier than earlier-stage patterns.
Earnings-per-share growth fell last quarter from 19% to 3%, but revenue rose from -1% to 2%. Look for the next report on or around Mar. 19.
Enerpac Tool Group holds the No. 1 rank among its peers in the Machinery-Tools & Related industry group. Xylem and Applied Indl Techs are also among the group's highest-rated stocks.
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