UFP Technologies had its Relative Strength (RS) Rating upgraded from 87 to 94 Wednesday.
IBD's unique RS Rating identifies technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks matches up against the rest of the market.
Decades of market research reveals that the best-performing stocks often have an RS Rating of at least 80 at the beginning of a new climb.
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UFP Technologies is building a cup without handle with a 366.41 entry. See if the stock can clear the breakout price in heavy volume. Be aware that it's a sixth-stage base. Such patterns do sometimes lead to significant gains, but they're more likely to fail than first- or second-stage consolidations.
In terms of top and bottom line numbers, the company has posted rising EPS growth over the last two quarters. Sales gains have also increased during the same period.
The company earns the No. 1 rank among its peers in the Containers/Packaging industry group. Aptargroup and Sylvamo are also among the group's highest-rated stocks.
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