Modine Manufacturing saw a positive improvement to its Relative Strength (RS) Rating on Wednesday, rising from 69 to 81.
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This unique rating identifies technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks matches up against other publicly traded companies.
Over 100 years of market history shows that the best stocks tend to have an RS Rating north of 80 in the early stages of their moves.
Modine Manufacturing is trading within a buy range after moving past a 108.04 entry in a consolidation. The proper buying range is up to 5% above the initial entry. Once a stock moves above that range, it's best to hold off investing and wait for it to set up another buying opportunity.
Earnings growth rose last quarter from 24% to 45%. But revenue gains fell from 10% to 7%. Keep an eye out for the company's next round of numbers on or around Jul. 30.
The company earns the No. 3 rank among its peers in the Building-A/C & Heating Products industry group. Comfort Systems USA 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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