Powell Industries saw a positive improvement to its Relative Strength (RS) Rating on Thursday, rising from 76 to 81.
Hone Your Stock-Picking Skills By Focusing On These Factors
IBD's unique RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks matches up against that of all other stocks.
History shows that the stocks that go on to make the biggest gains often have an RS Rating north of 80 in the early stages of their moves.
Powell Industries is now considered extended and out of buy range after clearing a 198.49 buy point in a second-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.
Powell Industries reported 39% EPS growth last quarter. Sales gains came in at 9%. Keep an eye out for the company's next round of numbers on or around Aug. 5.
The company holds the No. 9 rank among its peers in the Electrical Power/Equipment industry group. Vertiv Holdings, American Superconductor and AZZ 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.
RELATED:
IBD Stock Rating Upgrades: Rising Relative Strength
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
