IBD Rating Upgrades: Medtronic Flashes Improved Price Strength
The Relative Strength (RS) Rating for Medtronic moved into a higher percentile Wednesday, as it got a lift from 65 to 71.
When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength.
This proprietary rating identifies technical performance by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
History reveals that the top-performing stocks often have an RS Rating of at least 80 as they begin their largest price moves. See if Medtronic can continue to show renewed price strength and hit that benchmark.
Medtronic is in a buying range after clearing a 132.40 buy point in a flat base. The proper buying range extends to 5% above the initial entry. Once a stock moves above that range, it's best to hold off investing and wait for it to set up another buying opportunity..
Medtronic posted 127% earnings growth in the latest quarterly report, while sales growth came in at 23%.
Medtronic earns the No. 18 rank among its peers in the Medical-Products industry group. Bio Rad Labs and Staar Surgical are also among the group's highest-rated stocks.