The Relative Strength (RS) Rating for IDEXX Laboratories stock entered a new percentile Monday, with a rise from 67 to 84.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks matches up against the rest of the market.
Decades of market research shows that the market's biggest winners tend to have an RS Rating north of 80 in the early stages of their moves.
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Is IDEXX Laboratories Stock A Buy?
IDEXX Laboratories stock is now considered extended and out of buy range after clearing a 417.87 buy point in a first-stage cup without handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
The medical equipment company showed 13% EPS growth in the latest quarterly report. Revenue increased 4%. Keep an eye out for the company's next round of numbers on or around Feb. 1.
IDEXX Laboratories stock holds the No. 5 rank among its peers in the Medical-Systems/Equipment industry group. EDAP TMS ADR and Catalyst Pharma are also among the group's highest-rated stocks.
