Avantor Stock Shows Strength With 85 RS Rating
Avantor had its Relative Strength Rating upgraded from 79 to 85 Thursday. Is Avantor stock on your radar?
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating identifies market leadership by showing how a stock's price movement over the last 52 weeks compares to that of other stocks on the major indexes.
Over 100 years of market history shows that the best stocks often have an RS Rating north of 80 in the early stages of their moves. So the 85 RS Rating for Avantor stock is noteworthy.
Is Avantor Stock A Buy?
Note that Avantor's base is of the third-stage variety. Such patterns can work and do sometimes launch nice runs, but they're more likely to fail than first- or second-stage consolidations.
The Radnor, Pa.-based chemicals and materials company reported 46% earnings growth last quarter, while sales growth came in at 14%. Avantor is expected to report its latest earnings and sales numbers on or around Feb. 3.
Avantor stock earns the No. 1 rank among its peers in the Medical-Research Equipment/Services industry group.