Powell Industries saw a welcome improvement to its Relative Strength (RS) Rating on Friday, with an upgrade from 76 to 82.
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This unique rating identifies technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks matches up against that of all other stocks.
History shows that the best stocks typically have an RS Rating north of 80 as they begin their biggest price moves.
Powell Industries has risen more than 5% past a 198.49 entry in a second-stage cup with handle, meaning it's now out of a proper buy range. Look for the stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company posted 39% EPS growth in its most recent report. Revenue increased 9%. Keep an eye out for the company's next round of numbers on or around Aug. 5.
The company earns the No. 9 rank among its peers in the Electrical Power/Equipment industry group. American Superconductor, Vertiv Holdings and Eaton 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.
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