On Monday, Welltower hit a noteworthy technical benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 83, up from 80 the day before.
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IBD's unique RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks matches up against the rest of the market.
Decades of market research shows that the best stocks often have an 80 or better RS Rating in the early stages of their moves.
Welltower is trying to complete a consolidation with a 158.55 buy point. See if it can break out in volume at least 40% higher than normal.
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 19%, compared to 18% in the prior report. Revenue increased from 29% to 30%. The next quarterly results are expected on or around Jul. 28.
The company earns the No. 2 rank among its peers in the Finance-Property REITs industry group. CareTrust REIT 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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