ResMed saw a positive improvement to its Relative Strength (RS) Rating on Wednesday, rising from 66 to 74.
IBD's proprietary rating measures market leadership 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.
History reveals that the best stocks often have an 80 or higher RS Rating in the early stages of their moves. See if ResMed can continue to rebound and clear that threshold.
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While now is not an ideal time to invest, see if the stock goes on to establish and enter a buying range in heavy trade.
The company showed 29% earnings growth in the latest quarterly report. Revenue gains came in at 10%.
ResMed holds the No. 6 rank among its peers in the Medical-Products industry group. Boston Scientific, Axogen and LeMaitre Vascular are among the top 5 highly rated stocks within the group.
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