One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Omega Hlthcare Investors now clears that threshold, with a jump from 70 to 81 Tuesday.
This proprietary rating identifies market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the trailing 52 weeks matches up against that of all other stocks.
Decades of market research shows that the best stocks often have an RS Rating north of 80 in the early stages of their moves.
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Omega Hlthcare Investors is now considered extended and out of buy range after clearing a 34.28 buy point in a first-stage cup with 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 line.
In terms of top and bottom line numbers, Omega Hlthcare Investors has posted rising EPS growth over the last two quarters. Revenue gains have also increased over the same time frame.
Omega Hlthcare Investors holds the No. 3 rank among its peers in the Finance-Property REITs industry group. Strawberry Fields REIT 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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