On Friday, GE HealthCare Techs (GEHC) reached a key performance benchmark, with its Relative Strength (RS) Rating moving into the 80-plus percentile with an improvement to 81, up from 71 the day before. Keep in mind this is a new-issue stock, being a recent spin-off.
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When you’re researching the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD’s proprietary rating measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock’s price movement over the trailing 52 weeks compares to all the other stocks in our database.
History shows that the top-performing stocks typically have an 80 or higher RS Rating in the early stages of their moves.
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GE HealthCare Techs is not currently offering a proper buying opportunity. See if the stock goes on to form a promising consolidation that could launch a move on this recent IPO. A reminder that IPOs are often quite volatile.
Earnings grew -5% last quarter, up from -23% in the prior report. Revenue also increased, from 2% to 6%.
The company earns the No. 12 rank among its peers in the Medical-Systems/Equipment industry group. IDEXX Laboratories (IDXX) and Masimo (MASI) are also among the group’s highest-rated stocks.
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Source: https://www.investors.com/research/stocks-flashing-renewed-technical-strength-ge-healthcare-techs/?src=A00220&yptr=yahoo