The Relative Strength (RS) Rating for Rockwell Automation climbed into a new percentile Friday, with a rise from 80 to 83.
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This exclusive rating from Investor's Business Daily measures price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks holds up against all the other stocks in our database.
History shows that the top-performing stocks tend to have an RS Rating of at least 80 as they launch their biggest runs.
Rockwell Automation broke out earlier, but has fallen back below the prior 308.69 entry from a cup without handle. If a stock you're tracking clears a buy point then falls 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new base and breakout. Also keep in mind that the most recent pattern is a later-stage base, and such bases are more prone to failure.
Although earnings and sales growth came in at -2% and -6%, respectively, in the latest report, that marked two straight quarters of acceleration for EPS and two for the top line.
The company holds the No. 5 rank among its peers in the Electrical Power/Equipment industry group. Vertiv Holdings 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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