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Waters Scores Relative Strength Rating Upgrade; Hits Key Threshold

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On Tuesday, Waters ( WAT ) reached an important technical milestone, with its Relative Strength ( RS ) Rating jumping into the 80-plus percentile with an upgrade to 83, a rise from 80 the day before.

[ibd-display-video id=2368044 width=50 float=left autostart=true] IBD's unique RS Rating tracks market leadership by showing how a stock's price movement over the last 52 weeks compares to that of other stocks on the major indexes.

History reveals that the stocks that go on to make the biggest gains tend to have an 80 or better RS Rating as they launch their biggest price moves.

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Waters is now considered extended and out of buy range after clearing a 190.49 buy point in a first-stage flat base . 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 moving average.

Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 13%, compared to 11% in the prior report. Revenue increased from 4% to 7%. Keep an eye out for the company's next round of numbers on or around Jan. 24.

The company holds the No. 7 rank among its peers in the Electronics-Scientific Measuring industry group. IPG Photonics ( IPGP ), Coherent ( COHR ) and Novanta ( NOVT ) are among the top 5 highly rated stocks within the group.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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