On Monday, ShockWave Medical stock received an upgrade to its Relative Strength (RS) Rating, from 86 to 91.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD's proprietary RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks matches up against the rest of the market.
Decades of market research reveals that the top-performing stocks often have an RS Rating north of 80 at the beginning of a new climb.
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Is ShockWave Medical Stock A Buy?
ShockWave Medical stock retook its 200-day moving average. While the stock is not near an ideal entry right now, see if it goes on to form and break out from a proper consolidation.
While sales growth fell last quarter from 271% to 194%, earnings-per-share grew 157%, up from 0% in the prior report.
Shockwave Medical stock earns the No. 4 rank among its peers in the Medical-Systems/Equipment industry group. Haemonetics and Steris are among the top 5 highly rated stocks within the group.
