Shockwave Medical had its Relative Strength (RS) Rating upgraded from 63 to 72 Thursday -- a welcome improvement, but still below the 80 or better score you look for.
As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength.
This unique rating tracks technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the trailing 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the best stocks often have an RS Rating north of 80 as they begin their biggest runs. See if Shockwave Medical can continue to rebound and clear that threshold.
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While Shockwave Medical stock is not near a proper buying range right now, it is trying to re-capture the pivot point from an earlier cup with handle pattern, according to a MarketSmith chart.
Earnings growth increased last quarter from 0% to 157%. But revenue gains fell from 271% to 194%.
Shockwave Medical earns the No. 5 rank among its peers in the Medical-Systems/Equipment industry group. Steris and Natus Medical are also among the group's highest-rated stocks.
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