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Investors Business Daily
Investors Business Daily
Business
INVESTOR'S BUSINESS DAILY and JULIE MAK

Shockwave Medical Stock Sees Relative Strength Rating Ride Higher

On Wednesday, Shockwave Medical stock got a positive adjustment to its Relative Strength (RS) Rating, from 90 to 94. The stock has been rallying amid a Wall Street Journal report that Johnson and Johnson is in talks to buy Shockwave Medical.

This exclusive rating from Investor's Business Daily measures share price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the last 52 weeks stacks up against all the other stocks in our database.

Decades of market research reveals that the top-performing stocks tend to have an 80 or higher RS Rating in the early stages of their moves.

How To Use Stock Charts To Stay Profitable And Protected

Is Shockwave Medical Stock A Buy?

The IBD 50 stock has moved more than 5% past a 308.09 entry in a first-stage cup with handle, meaning it's now out of a proper buy zone. Look for the medical device stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week moving average.

The medical device maker reported -2% EPS growth in its most recent report, while sales growth came in at 41%.

Shockwave Medical stock earns the No. 4 rank among its peers in the Medical-Systems/Equipment industry group. Bruker Corp is the top-ranked stock within the group.

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