Stratasys Trying To Close In On Key Technical Measure
In a welcome move, Stratasys saw its Relative Strength Rating improve from 70 to 74 on Friday.
As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength.
This unique rating identifies technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks compares to the rest of the market.
Over 100 years of market history shows that the stocks that go on to make the biggest gains typically have an RS Rating of above 80 as they begin their biggest runs. See if Stratasys can continue to show renewed price strength and clear that threshold.
Stratasys has risen more than 5% past a 20.93 entry in a first-stage cup without handle, meaning it's now out of a proper buy zone. Look for the stock to offer a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
In terms of top and bottom line numbers, the company has posted five quarters of rising earnings growth. Sales growth has also risen over the same time frame.
Stratasys holds the No. 4 rank among its peers in the Machinery-Materials Handling industry group. Three D Systems and Columbus McKinnon are also among the group's highest-rated stocks.