In a welcome move, ResMed saw its Relative Strength Rating improve from 69 to 77 on Wednesday.
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IBD's unique rating tracks share price action with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the trailing 52 weeks compares to all the other stocks in our database.
History reveals that the best stocks often have an RS Rating of at least 80 as they launch their largest price moves. See if ResMed can continue to show renewed price strength and clear that threshold.
ResMed is working on a cup without handle with a 263.05 entry. See if the stock can clear the breakout price in heavy volume.
The company showed 11% earnings growth in its most recent report, while sales growth came in at 8%.
ResMed holds the No. 5 rank among its peers in the Medical-Products industry group. Boston Scientific 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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