Globalstar saw a positive improvement to its Relative Strength (RS) Rating on Thursday, rising from 78 to 81.
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IBD's proprietary RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the last 52 weeks matches up against other publicly traded companies.
Decades of market research reveals that the best stocks tend to have an RS Rating of above 80 as they begin their biggest runs.
Globalstar is now considered extended and out of buy range after clearing a 22.64 buy point in a first-stage cup without 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.
The company posted 0% EPS growth in its most recent report, while sales growth came in at 6%. The company is expected to report its latest performance numbers on or around Jul. 31.
The company holds the No. 7 rank among its peers in the Telecom Services-Wireless industry group. T-Mobile US, Iridium Communications and Spok Holdings 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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