UFP Technologies saw a welcome improvement to its Relative Strength (RS) Rating on Wednesday, rising from 79 to 83.
IBD's unique RS Rating tracks technical performance by showing how a stock's price action over the last 52 weeks compares to that of other stocks on the major indexes.
History reveals that the market's biggest winners typically have an RS Rating of over 80 in the early stages of their moves.
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UFP Technologies is trying to complete a consolidation with a 366.41 buy point. See if the stock can break out in volume at least 40% above average. It's a later-stage pattern, and investors should be aware that those are less likely to launch sustained new climbs.
In terms of fundamentals, UFP Technologies has posted rising EPS growth in each of the last two reports. Sales growth has also increased during the same period.
UFP Technologies holds the No. 1 rank among its peers in the Containers/Packaging industry group. Sylvamo and Silgan Holdings are also among the group's highest-rated stocks.
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