Cardinal Health had its Relative Strength (RS) Rating upgraded from 79 to 82 Monday.
When you're researching the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's unique rating identifies share price action with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains tend to have an RS Rating of at least 80 as they launch their biggest price moves.
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Cardinal Health is not currently showing a potential entry point. The stock is just now trying to reverse a downtrend. See if the stock goes on to form a new chart pattern that could launch a new move, as it attempts to clear some key moving averages.
The company posted 4% EPS growth in the latest quarterly report, while sales growth came in at 13%.
Cardinal Health holds the No. 3 rank among its peers in the Medical-Wholesale Drugs industry group. Viemed Healthcare also among the group's highest-rated stocks.
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