One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Regal Rexnord now clears that threshold, with a jump from 70 to 80 Monday.
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This proprietary rating tracks technical performance by showing how a stock's price action over the last 52 weeks compares to that of other stocks on the major indexes.
Over 100 years of market history shows that the stocks that go on to make the biggest gains typically have an RS Rating of over 80 as they launch their biggest runs.
Regal Rexnord is still inside a buy range after moving past a 148.00 buy point in a flat base. Once a stock moves 5% or higher beyond the original entry, it's considered out of a proper buying area.
The company saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 3% to 8%. Revenue rose from -9% to -8%. The company is expected to report its latest performance numbers on or around Aug. 4.
Regal Rexnord holds the No. 15 rank among its peers in the Electrical Power/Equipment industry group. Vertiv Holdings, American Superconductor and Eaton Corp. PLC 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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