Lincoln Electric had its Relative Strength (RS) Rating upgraded from 78 to 82 Thursday.
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IBD's unique rating measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
History reveals that the market's biggest winners often have an 80 or higher RS Rating in the early stages of their moves.
Lincoln Electric has risen more than 5% past a 220.36 entry in a first-stage double bottom, 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 line.
Earnings-per-share growth dropped in the company's latest report from 5% to -3%, but sales rose from 2% to 7%. The next quarterly numbers are expected on or around Jul. 31.
The company holds the No. 3 rank among its peers in the Machinery-Tools & Related industry group. Fastenal 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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