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Sleep Apnea Device Maker Resmed Sees Improved Relative Strength

The Relative Strength (RS) Rating for Resmed (RMD) stock climbed into a new percentile Friday, as it got a lift from 64 to 75.




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When looking for the best stocks to buy and watch, keep a close on eye on relative price strength.

IBD’s proprietary RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that shows how a stock’s price performance over the last 52 weeks compares to the rest of the market.

Decades of market research reveals that the market’s biggest winners tend to have an 80 or higher RS Rating in the early stages of their moves. See if Resmed can continue to rebound and clear that threshold.


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Is Resmed Stock A Buy?

After hitting a 52-week of 301.34 on Sep. 9, Resmed stock has pulled back into a consolidation, sitting just above its 50-day line. It’s currently not in a buy zone. See if the stock forms a new chart pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips. Also, check out “Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks.”

Taking a look at revenue and profit performance, the company has posted rising EPS growth over the last two quarters. Top line growth has also risen over the same time frame. The sleep apnea device maker is expected to release its next quarterly numbers on or around Jan. 28.

Resmed stock holds the No. 3 rank among its peers in the Medical-Products industry group. United Guardian (UG) and Resmed (RMD) are also among the group’s highest-rated stocks.

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