Novanta Clears Key Benchmark, Hitting 80-Plus RS Rating
The Relative Strength (RS) Rating for Novanta entered a new percentile Friday, with an increase from 78 to 82.
When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength.
This exclusive rating from Investor's Business Daily identifies share price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the last 52 weeks compares to all the other stocks in our database.
History shows that the best stocks tend to have an 80 or better RS Rating in the early stages of their moves.
Novanta is now considered extended and out of buy range after clearing a 146.26 buy point in a first-stage consolidation. 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 moving average.
Taking a look at revenue and profit performance, Novanta has posted rising EPS growth in each of the last three reports. Sales gains have also increased over the same time frame.
Novanta holds the No. 2 rank among its peers in the Electronics-Scientific Measuring industry group. Novanta and Keysight Technologies are also among the group's highest-rated stocks.