When putting together your watch list, focus on stocks with an 80 or higher RS Rating. Gates Industrial now meets that criteria, with a jump from 80 to 87 Tuesday.
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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 last 52 weeks matches up against other publicly traded companies.
Over 100 years of market history shows that the best stocks often have an 80 or better RS Rating in the early stages of their moves.
Gates Industrial is building a cup without handle with a 23.85 entry. See if it can break out in volume at least 40% above average.
Gates Industrial saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -3% to 6%. Revenue rose from -4% to -2%.
The company earns the No. 5 rank among its peers in the Electrical Power/Equipment industry group. AZZ is the No. 1-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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