In a welcome move, Cencora saw its Relative Strength Rating rise from 66 to 76 on Wednesday.
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This exclusive rating from Investor's Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the last 52 weeks compares to all the other stocks in our database.
Over 100 years of market history shows that the market's biggest winners often have an RS Rating of over 80 as they launch their biggest climbs. See if Cencora can continue to rebound and hit that benchmark.
Cencora is working on a flat base with a 309.35 entry. See if the stock can clear the breakout price in volume at least 40% higher than normal. Be aware that it's a second-stage base. Such patterns can work and do sometimes launch nice runs, but they're more likely to fail than earlier-stage consolidations.
Earnings growth rose last quarter from 16% to 20%. But sales fell from 10% to 9%.
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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