On Monday, iRhythm Technologies reached an important technical milestone, with its Relative Strength (RS) Rating moving into the 90-plus percentile with an improvement to 96, an increase from 90 the day before.
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This proprietary rating identifies market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the last 52 weeks matches up against other publicly traded companies.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains typically have an 80 or higher RS Rating at the beginning of a new run.
iRhythm Technologies is still inside a buy range after climbing above a 128.52 entry in a cup without handle. The proper buying range is up 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..
The relative strength line is currently in new high territory, a positive sign of market leadership.. .
iRhythm Technologies showed 0% EPS growth in its most recent report, while sales growth came in at 20%.
iRhythm Technologies holds the No. 4 rank among its peers in the Medical-Services industry group. Hims & Hers Health is the top-ranked stock 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.
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