In a welcome move, SPX Technologies saw its Relative Strength Rating improve from 67 to 72 on Tuesday.
Can You Really Time The Stock Market?
This unique rating identifies technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks compares to the rest of the market.
Decades of market research reveals that the best-performing stocks tend to have an RS Rating of over 80 as they launch their largest price moves. See if SPX Technologies can continue to show renewed price strength and hit that benchmark.
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock manages to offer and clear an appropriate buy point.
SPX Technologies posted 10% EPS growth in the latest quarterly report, while sales growth came in at 4%.
The company earns the No. 8 rank among its peers in the Machinery-General Industrial industry group. ESCO Technologies, Badger Meter and DXP Enterprises 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.
RELATED:
Which Stocks Are Showing Improved Price Performance?
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
