ESAB had its Relative Strength (RS) Rating upgraded from 67 to 72 Thursday — a welcome improvement, but still shy of the 80 or higher score you prefer to see.
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This proprietary rating measures 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.
Decades of market research reveals that the best stocks typically have an 80 or higher RS Rating as they launch their biggest runs. See if ESAB can continue to rebound and hit that benchmark.
ESAB is building a consolidation with a 135.97 buy point. See if it can clear the breakout price in heavy trading. Be aware that it's a third-stage base. Such patterns do sometimes lead to significant gains, but they're more likely to fail than earlier-stage consolidations.
While the company's bottom line growth declined in the company's most recently reported quarter from 13% to 4%, sales grew -2%, up from -3% in the previous report. Keep an eye out for the company's next round of numbers on or around Aug. 6.
The company holds the No. 19 rank among its peers in the Machinery-General Industrial industry group. Power Solutions Intl, Badger Meter and ESCO Technologies are among the top 5 highly rated stocks 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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