SPX Technologies had its Relative Strength (RS) Rating upgraded from 69 to 73 Thursday — a welcome improvement, but still below the 80 or better score you look for.
IBD's unique RS Rating identifies technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Over 100 years of market history reveals that the best-performing stocks often have an RS Rating of above 80 as they begin their biggest runs. See if SPX Technologies can continue to rebound and hit that benchmark.
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SPX Technologies is trying to complete a consolidation with a 183.83 entry. See if the stock can break out in volume at least 40% above average. Be aware that it's a third-stage base. Such later-stage patterns involve more risk and are more likely to fail than first- or second-stage formations.
SPX Technologies showed 31% EPS growth in the latest quarterly report, while sales growth came in at 8%. Keep an eye out for the company's next round of numbers on or around Feb. 25.
The company earns the No. 7 rank among its peers in the Machinery-General Industrial industry group. DXP Enterprises, Graham Corp and Badger Meter are among the top 5 highly rated stocks within the group.
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