Resideo Technologies saw a welcome improvement to its Relative Strength (RS) Rating on Wednesday, rising from 89 to 93.
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This proprietary rating tracks market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research reveals that the best-performing stocks typically have an RS Rating north of 80 as they begin their largest climbs.
Resideo Technologies has risen more than 5% past a 24.62 entry in a first-stage cup with handle, meaning it's now out of a proper buy zone. Look for the stock to create a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
EPS growth dropped last quarter from 34% to 6%, but revenue rose from 19% to 22%.
Resideo Technologies holds the No. 5 rank among its peers in the Security/Safety industry group. Federal Signal is the No. 1-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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