When putting together your watch list, focus on stocks with an 80 or higher RS Rating. Cencora just cleared that benchmark with an upgrade from 80 to 83.
Hone Your Stock-Picking Skills By Focusing On These Factors
IBD's unique RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matches up against that of all other stocks.
History shows that the top-performing stocks often have an 80 or higher RS Rating as they launch their biggest runs.
Cencora is building a flat base with a 309.35 entry. See if it can clear the breakout price in heavy trade. Be aware that it's a second-stage base. Later-stage patterns can work, but have a higher chance of failing since, by that point, the stock has already made a significant move..
Earnings growth rose last quarter from 14% to 16%. But sales fell from 13% to 10%. Keep an eye out for the company's next round of numbers on or around Aug. 6.
The company holds the No. 1 rank among its peers in the Medical-Wholesale Drugs industry group. McKesson and Cardinal Health 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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