Novanta had its Relative Strength (RS) Rating upgraded from 68 to 72 Tuesday — a welcome improvement, but still shy of the 80 or better score you look for.
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 the other stocks in our database.
Over 100 years of market history shows that the market's biggest winners tend to have an RS Rating north of 80 as they begin their biggest climbs. See if Novanta can continue to show renewed price strength and hit that benchmark.
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Novanta is working on a consolidation with a 187.12 buy point. See if the stock can clear the breakout price in volume at least 40% higher than normal.
Earnings-per-share growth declined in the company's latest report from 0% to -9%, but the top line rose from 3% to 10%.
Novanta earns the No. 2 rank among its peers in the Electronics-Scientific Measuring industry group. Itron is the top-ranked stock within the group.
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