Talk about ubiquitous market coverage! Industrial gases giant Linde has its finger in almost every industrial pie: healthcare, electronics, clean energy generation, food and beverage, and many others. On Monday, Linda (LIN) received an upgrade to its Relative Strength Score (RS), from 79 to 82. Shares of Linda rose.
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The increased RS 82 rating means UK-based Linde is among the top 18% of stocks in IBD’s database. More than 100 years of market history shows that the best performing stocks usually have an RS score of at least 80 in the early stages of their movements. When researching the best stocks to buy and watch, relative price strength is a key indicator.
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Linde Stock Roller Coaster?
Due to the bear market last year, Linde’s shares were in decline. However, it continues to show unusual strength, including double-digit sales and profit growth every quarter over the past year. Additionally, after falling as low as 265 last July, it is closing in on an all-time high of 352.18 set in January 2022. On Monday afternoon, Linda shares were trading around 323, up more than 2% on the day . Although now is not an ideal time to jump in as it is not in the right buying zone, Linde is a good candidate for the stock watch list.
Earnings rose 14% last quarter to $3.10 per share. Sales rose 15% to $8.797 billion. Linde says on its website that it plans to release fourth-quarter financial results on Feb. 7 before the market opens.
His group also ranks highly
Linde’s stock ranks No. 5 among its peers in the specialty chemicals industry group. CSW Industrials (CSWI) and Air products and chemicals (APD) are also among the group’s best-rated stocks. The group itself ranks an impressive No. 5 on IBD’s list of 197 industries.
Investor’s Business Daily’s exclusive Relative Strength Score tracks market leadership from 1 (worst) to 99 (best). The result shows how the stock’s price behavior over the past 52 weeks holds up relative to all other stocks in our database.
Follow James DeTaro on Twitter @JimDeTar
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