One important metric to look for in a stock is an 80 or higher Relative Strength Rating. ResMed just hit that mark, with a jump from 79 to 82 Thursday.
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This exclusive rating from Investor's Business Daily measures price movement with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
History shows that the best-performing stocks often have an RS Rating north of 80 as they begin their biggest climbs.
ResMed has moved more than 5% past a 253.43 entry in a first-stage cup with handle, meaning it's now out of a proper buy range. Look for the stock to create a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week moving average.
ResMed posted 11% earnings growth in its most recent report, while sales growth came in at 8%. The next quarterly numbers are expected on or around Jul. 31.
The company holds the No. 1 rank among its peers in the Medical-Products industry group. Boston Scientific and Insulet are also among the group's highest-rated stocks.
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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