One important metric to look for in a stock is an 80 or higher Relative Strength Rating. SPX Technologies cleared that benchmark Monday, with a jump from 78 to 81 Monday.
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IBD's proprietary RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks matches up against other publicly traded companies.
Decades of market research shows that the best stocks typically have an 80 or higher RS Rating as they begin their biggest price moves.
SPX Technologies is still inside a buying range after clearing a 157.83 buy point in a cup with handle. The proper buying range is up to 5% above the initial entry. Once a stock moves above that range, it's best to wait for it to set up another buying opportunity.
The company reported 10% earnings growth in its most recent report, while sales growth came in at 4%.
The company holds the No. 4 rank among its peers in the Machinery-General Industrial industry group. Power Solutions Intl 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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