On Friday, Casella Waste Sys Cl A reached an important technical milestone, with its Relative Strength (RS) Rating climbing into the 80-plus percentile with an upgrade to 82, up from 75 the day before.
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IBD's unique rating identifies price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
Decades of market research reveals that the stocks that go on to make the biggest gains tend to have an RS Rating north of 80 in the early stages of their moves.
Casella Waste Sys Cl A broke out earlier, but has fallen back below the prior 116.31 entry from a flat base. 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 understand that the latest consolidation is a later-stage base, and those involve more risk.
Earnings growth fell in the company's most recent report from 41% to 27%, but the top line rose from 19% to 22%.
The company earns the No. 2 rank among its peers in the Pollution-Control industry group. Aris Water Solutions 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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