On Friday, Thomson Reuters hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 81, up from 78 the day before.
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This proprietary rating identifies technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the trailing 52 weeks matches up against that of all other stocks.
Decades of market research shows that the market's biggest winners tend to have an RS Rating of above 80 as they begin their biggest climbs.
Thomson Reuters has risen more than 5% past a 180.42 entry in a first-stage flat base, meaning it's now out of a proper buy range. Look for the stock to offer a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company posted 1% earnings growth in its most recent report. Sales gains came in at 1%. Look for the next report on or around Aug. 6.
The company earns the No. 4 rank among its peers in the Commercial Services-Market Research industry group. Moody's 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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