On Tuesday, National Instruments stock reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 91, up from 75 the day before. National Instruments stock soared the last few trading sessions amid a nearly $7 billion offer by Emerson Electric to buy the Texas-based equipment and instrumentation company.
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength. This exclusive rating from Investor's Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the last 52 weeks compares to all the other stocks in our database.
History shows that the best stocks typically have an RS Rating of over 80 in the early stages of their moves.
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Is National Instruments Stock A Buy?
National Instruments stock's recent ascent has moved more than 5% past a 43.00 entry in a first-stage cup without handle, meaning it's now extended and out of a proper buy range. Look for the stock to offer a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The equipment and instrumentations firm saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 3% to 26%. Revenue rose from 14% to 17%. The next quarterly results are expected on or around Jan. 31.
National Instruments stock earns the No. 2 rank among its peers in the Computer-Integrated Systems industry group. Agilysys is the No. 1-ranked stock within the group.
