The Relative Strength (RS) Rating for Casella Waste Sys Cl A moved into a new percentile Thursday, as it got a lift from 63 to 73.
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.
History shows that the market's biggest winners tend to have an RS Rating north of 80 as they begin their largest price moves. See if Casella Waste Sys Cl A can continue to rebound and clear that threshold.
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Casella Waste Sys Cl A broke out earlier, but is now around 3% below the prior 109.08 entry from a flat base. In the case where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new pattern to form. Also keep in mind that the most recent pattern is a later-stage base, and such bases are more prone to failure.
Earnings growth rose last quarter from -39% to -23%. But revenue gains fell from 30% to 17%.
Casella Waste Sys Cl A earns the No. 16 rank among its peers in the Pollution-Control industry group. Aris Water Solutions, Perma-Pipe Intl and Clean Harbors are among the top 5 highly rated stocks within the group.
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