In a welcome move, ESAB saw its Relative Strength Rating improve from 67 to 73 on Friday.
When To Sell Stocks To Lock In Profits And Minimize Losses
This proprietary rating measures technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
History shows that the best stocks often have an RS Rating of above 80 in the early stages of their moves. See if ESAB can continue to show renewed price strength and hit that benchmark.
ESAB is trying to complete a consolidation with a 135.97 entry. See if the stock can clear the breakout price in volume at least 40% above average. It's a later-stage pattern, and investors should be aware that those are less likely to work.
Earnings growth fell in the company's most recent report from 13% to 4%, but sales rose from -3% to -2%.
ESAB earns the No. 19 rank among its peers in the Machinery-General Industrial industry group. Badger Meter, Power Solutions Intl and ESCO Technologies 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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