The Relative Strength (RS) Rating for Abbott Laboratories headed into a new percentile Thursday, as it got a lift from 69 to 72.
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IBD's proprietary RS Rating identifies technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
History reveals that the top-performing stocks typically have an RS Rating north of 80 in the early stages of their moves. See if Abbott Laboratories can continue to show renewed price strength and hit that benchmark.
Abbott Laboratories broke out earlier, but has fallen back below the prior 136.80 entry from a cup with handle. 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 consolidation is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
The company showed 11% EPS growth in the latest quarterly report. Revenue rose 4%. Look for the next report on or around Jul. 17.
Abbott Laboratories earns the No. 1 rank among its peers in the Medical-Diversified industry group. Eli Lilly and GSK ADR are also among the group's highest-rated stocks.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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