On Monday, Garrett Motion hit a noteworthy performance benchmark, with its Relative Strength (RS) Rating entering into the 90-plus percentile with an improvement to 92, an increase from 89 the day before.
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IBD's unique rating identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the trailing 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history shows that the best stocks tend to have an RS Rating of above 80 at the beginning of a new price run.
Garrett Motion has climbed more than 5% past a 10.38 entry in a first-stage cup without handle, meaning it's now out of a proper buy zone. Look for the stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Earnings growth declined last quarter from 114% to 7%, but sales rose from -11% to -4%.
Garrett Motion earns the No. 5 rank among its peers in the Auto/Truck-Original Equipment industry group. Hesai Group ADR is the No. 1-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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