On Monday, Globalstar hit an important technical milestone, with its Relative Strength (RS) Rating entering into the 90-plus percentile with an improvement to 92, an increase from 82 the day before.
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IBD's proprietary RS Rating measures market leadership 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 reveals that the market's biggest winners tend to have an RS Rating of over 80 in the early stages of their moves.
Globalstar is now considered extended and out of buy range after clearing a 22.64 buy point in a first-stage cup without handle. 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.
The company reported 0% earnings growth in its most recent report. Sales gains came in at 11%.
The company earns the No. 3 rank among its peers in the Telecom Services-Wireless industry group. T-Mobile US is the top-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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