On Thursday, Corteva cleared a key performance benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 81, up from 78 the day before.
This proprietary rating identifies market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks matches up against the rest of the market.
Over 100 years of market history shows that the best-performing stocks tend to have an RS Rating of at least 80 as they launch their biggest climbs.
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Corteva has climbed more than 5% past a 58.76 entry in a first-stage cup without handle, meaning it's now out of a proper buy zone. Look for the stock to create a new 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 last quarter. Earnings were up 14%, compared to -23% in the prior report. Revenue increased from -8% to 1%. The next quarterly numbers are expected on or around Nov. 6.
The company holds the No. 2 rank among its peers in the Agricultural Operations industry group. Limoneira is the No. 1-ranked stock within the group.
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