One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Labcorp Holdings cleared that benchmark Wednesday, with a jump from 73 to 81 Wednesday.
Hone Your Stock-Picking Skills By Focusing On These Factors
IBD's proprietary RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the last 52 weeks matches up against the rest of the market.
Over 100 years of market history shows that the market's biggest winners often have an RS Rating north of 80 as they begin their biggest price moves.
Labcorp Holdings is working on a consolidation with a 258.59 buy point. See if the stock can break out in volume at least 40% above average.
The company reported 4% earnings growth last quarter. Sales rose 5%.
The company earns the No. 9 rank among its peers in the Medical-Services industry group. GeneDx Holdings, Hims & Hers Health and Option Care Health are among the top 5 highly rated stocks 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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