In a welcome move, Balchem saw its Relative Strength Rating improve from 68 to 77 on Monday.
IBD's proprietary RS 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 stacks up against all the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains typically have an 80 or higher RS Rating in the early stages of their moves. See if Balchem can continue to rebound and clear that threshold.
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Balchem is trying to complete a flat base with a 186.03 entry. See if the stock can break out in volume at least 40% higher than normal.
Balchem saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 3% to 9%. Revenue rose from 1% to 4%.
The company earns the No. 12 rank among its peers in the Chemicals-Specialty industry group. Valhi, Cabot Corp and Air Products & Chemicals are among the top 5 highly rated stocks within the group.
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