Gates Industrial had its Relative Strength (RS) Rating upgraded from 84 to 91 Friday.
This exclusive rating from Investor's Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the last 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the market's biggest winners typically have an 80 or better RS Rating at the beginning of a new run.
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Gates Industrial is working on a cup without handle with a 23.34 buy point. See if the stock can break out in volume at least 40% higher than normal. It's a later-stage pattern, and investors should be aware that those are less likely to launch sustained new runs.
Although earnings and sales growth came in at -3% and -4%, respectively, in the latest report, that marked acceleration for both EPS and revenue.
The company holds the No. 7 rank among its peers in the Electrical Power/Equipment industry group. Vertiv Holdings, American Superconductor and AZZ are among the top 5 highly rated stocks within the group.
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