IBD Rating Upgrades: Cognex Flashes Improved Price Strength

Cognex (CGNX) had its Relative Strength (RS) Rating upgraded from 68 to 71 Tuesday — a welcome improvement, but still shy of the 80 or better score you look for.


When you’re researching the best stocks to buy and watch, keep a close on eye on relative price strength.

This unique rating tracks market leadership by showing how a stock’s price action over the last 52 weeks compares to that of the other stocks in our database.

History reveals that the market’s biggest winners typically have an RS Rating north of 80 in the early stages of their moves. See if Cognex can continue to show renewed price strength and clear that threshold.

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Cognex has climbed more than 5% past a 71.04 entry in a first-stage cup with handle, meaning it’s now out of a proper buy range. Look for the stock to offer a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.

Cognex saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -97% to 82%. Revenue rose from -15% to 37%. Keep an eye out for the company’s next round of numbers on or around Feb. 13.

The company earns the No. 3 rank among its peers in the Electronics-Scientific Measuring industry group. Luna Innovations (LUNA) and Cognex (CGNX) are also among the group’s highest-rated stocks.


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