On Monday, nVent Electric reached an important technical milestone, with its Relative Strength (RS) Rating jumping into the 80-plus percentile with an upgrade to 85, up from 80 the day before.
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This exclusive rating from Investor's Business Daily measures share price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the last 52 weeks holds up against all the other stocks in our database.
History reveals that the best stocks typically have an RS Rating of above 80 as they begin their biggest runs.
nVent Electric is now considered extended and out of buy range after clearing a 58.98 buy point in a second-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 saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 7% to 10%. Revenue rose from 9% to 11%. The company is expected to report its latest earnings and sales numbers on or around Jul. 31.
The company holds the No. 4 rank among its peers in the Electrical Power/Equipment industry group. Vertiv Holdings is the top-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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