In a welcome move, Medtronic stock saw its Relative Strength Rating improve from 67 to 73 on Tuesday.
This proprietary rating measures technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the last 52 weeks matched up against all other stocks.
Over 100 years of market history reveals that the market's biggest winners often have an RS Rating of over 80 as they launch their biggest runs. See if Medtronic stock can continue to show renewed price strength and clear that threshold.
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Is Medtronic Stock A Buy?
Medtronic stock broke out earlier, but has fallen back below the prior 92.68 entry from a cup without handle. If a stock you're tracking climbs above a buy point then falls 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new consolidation and breakout. Also keep in mind that the most recent consolidation is a later-stage base, and those involve more risk.
Earnings growth moved up last quarter from 1% to 7%, but sales fell from 5% to 3%.
Medtronic stock holds the No. 15 rank among its peers in the Medical-Products industry group. Boston Scientific, LeMaitre Vascular and Insulet are among the top 5 highly rated stocks within the group.
