ConMed Clears Key Benchmark, Hitting 80-Plus RS Rating

ConMed (CNMD) saw a welcome improvement to its Relative Strength (RS) Rating on Tuesday, with an upgrade from 78 to 82.


As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength. IBD’s unique rating identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock’s price movement over the last 52 weeks holds up against all the other stocks in our database.

History reveals that the stocks that go on to make the biggest gains tend to have an RS Rating of at least 80 in the early stages of their moves.

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ConMed is now considered extended and out of buy range after clearing an 87.67 buy point in a first-stage cup with handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.

ConMed posted negative growth for both sales and earnings last quarter.

ConMed holds the No. 10 rank among its peers in the Medical-Products industry group. Meridian Bioscience (VIVO) and Repligen (RGEN) are also among the group’s highest-rated stocks.


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