AGCO saw a welcome improvement to its Relative Strength (RS) Rating on Wednesday, with an increase from 68 to 78.
Can You Really Time The Stock Market?
IBD's proprietary rating measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the last 52 weeks holds up against all the other stocks in our database.
Decades of market research shows that the best stocks typically have an RS Rating of above 80 in the early stages of their moves. See if AGCO can continue to show renewed price strength and hit that benchmark.
AGCO broke out earlier, but has fallen back below the prior 108.76 entry from a flat base. In the scenario 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, which makes it riskier to establish a new position or add shares to an existing one.
AGCO reported negative growth for both sales and earnings last quarter. The company is expected to report its next quarterly numbers on or around Jul. 24.
AGCO earns the No. 5 rank among its peers in the Machinery-Farm industry group. Lindsay is the top-ranked stock within the group.
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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