On Thursday, Mirion Technologies hit an important performance benchmark, with its Relative Strength (RS) Rating jumping into the 90-plus percentile with an upgrade to 91, up from 88 the day before.
IBD's proprietary RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks matches up against other publicly traded companies.
Decades of market research shows that the stocks that go on to make the biggest gains tend to have an RS Rating north of 80 in the early stages of their moves.
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Mirion Technologies is now considered extended and out of buy range after clearing an 11.18 buy point in a first-stage double bottom. 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.
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 60%, compared to 25% in the prior report. Revenue increased from 5% to 8%. The company is expected to report its latest results on or around Feb. 11.
The company holds the No. 15 rank among its peers in the Machinery-General Industrial industry group. DXP Enterprises, Badger Meter and Flowserve are among the top 5 highly rated stocks within the group.
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