When looking for the best stocks to buy and watch, focus on those with rising relative price strength. One stock that fits that bill is Brooks Automation, which saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, rising from 86 to 92, and making Brooks Automation stock one to keep an eye on.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. This unique rating identifies technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks matches up against other publicly traded companies.
History shows that the market's biggest winners typically have an RS Rating north of 80 in the early stages of their moves.
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Brooks Automation broke out earlier, but has fallen back just below the prior 104.41 entry from a cup without handle. If a stock you're tracking clears a buy point then falls 7% or more below the original entry price, it's considered a failed base. That hasn't been the case with Brooks Automation stock which managed to advance during Monday's sell-off and again on Tuesday.
It's best to wait for the stock to form a new consolidation and breakout. Also understand that the most recent pattern is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
Earnings growth slowed last quarter from 144% to 125%. But revenue gains moved higher, from 30% to 43%.
Brooks Automation stock holds the No. 3 rank among its peers in the Electronics-Semiconductor Equipment industry group. KLA Tencor and Kulicke & Soffa Industries are among the top 5 highly rated stocks within the group.
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