One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Hinge Health cleared that benchmark Monday, with a jump from 76 to 86 Monday.
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IBD's unique RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the trailing 52 weeks matches up against other publicly traded companies.
Decades of market research reveals that the stocks that go on to make the biggest gains often have an RS Rating north of 80 in the early stages of their moves.
The stock, which is on theIPO Leaders screen, is trying to complete an ipo base with a 43.80 buy point. See if the stock can break out in heavy trading.
The relative strength has entered new high ground, a sign the stock is outperforming the general market in terms of price performance.
Hinge Health reported 0% EPS growth in its most recent report, while sales growth came in at 50%.
Hinge Health holds the No. 9 rank among its peers in the Medical-Products industry group. Insulet, Boston Scientific and LifeMD 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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