Thermo Fisher Scientific stock saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, rising from 77 to 81.
IBD's unique RS Rating measures market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
History reveals that the market's biggest winners tend to have an RS Rating of at least 80 in the early stages of their moves.
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Is Thermo Fisher Scientific Stock A Buy?
Thermo Fisher Scientific stock broke out earlier, but has fallen back below the prior 602.00 entry from a double bottom. In the case where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new pattern to take shape. Also understand that the latest pattern is a later-stage base, and those involve more risk.
Earnings grew 4% last quarter, up from 2% in the prior report. Revenue also increased, from -3% to -1%.
Thermo Fisher Scientific stock earns the No. 7 rank among its peers in the Medical-Research Equipment/Services industry group. Medpace Holdings, Myriad Genetics and Veracyte are among the top 5 highly rated stocks within the group.
