On Wednesday, EchoStar hit a noteworthy performance benchmark, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 98, up from 90 the day before.
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This exclusive rating from Investor's Business Daily measures share price performance with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.
History reveals that the market's biggest winners tend to have an RS Rating north of 80 in the early stages of their moves.
EchoStar is now considered extended and out of buy range after clearing a 30.08 buy point in a second-stage consolidation. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
EchoStar posted 0% earnings growth last quarter. Revenue gains came in at -6%.
The company holds the No. 8 rank among its peers in the Telecom-Cable/Satellite Equipment industry group. Frequency Electronics, Preformed Line Products and Belden 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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