On Wednesday, Flowserve hit a noteworthy performance benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 83, up from 79 the day before.
IBD's unique rating tracks market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the last 52 weeks compares to all the other stocks in our database.
History reveals that the top-performing stocks typically have an RS Rating of over 80 in the early stages of their moves.
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While the stock is not near a proper buy point right now, see if it manages to form and break out from a proper chart pattern.
The company showed 24% EPS growth in its most recent report. Sales gains came in at 4%.
The company holds the No. 2 rank among its peers in the Machinery-General Industrial industry group. SPX Technologies is the top-ranked stock within the group.
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