On Friday, Quest Diagnostics reached an important performance benchmark, with its Relative Strength (RS) Rating moving into the 80-plus percentile with an improvement to 81, an increase from 77 the day before.
IBD's proprietary RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the last 52 weeks matches up against the rest of the market.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains often have an RS Rating north of 80 in the early stages of their moves.
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Quest Diagnostics is still within a buy zone after climbing above a 165.32 entry in a cup without handle. Once a stock moves 5% or higher beyond the original entry, it's considered out of a proper buying area.
In terms of top and bottom line numbers, Quest Diagnostics has posted rising EPS growth over the last three quarters. Sales gains have also moved higher during the same period.
Quest Diagnostics earns the No. 7 rank among its peers in the Medical-Services industry group. Hims & Hers Health, Option Care Health and Quest Diagnostics are among the top 5 highly rated stocks within the group.
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