In the Optionable Universe, this week we saw 21 relative strength buy signals compared to 20 last week. On the sell side, there were 17 relative strength sell signals compared to 14 last week.
Relative Strength Changes for the Week
Relative strength is a measure of how a stock is performing when compared to something else, in this case the S&P 500 Equal Weighted Index (SPXEWI). Each day the stock's closing price is divided by that of the SPXEWI, the resulting numbers decimal is moved two places and then plotted on a Point & Figure chart. Whenever the relative strength chart shows a double top buy signal (e.g. RS Buy or Positive Relative Strength), it suggests the stock is likely to outperform the market for the foreseeable future. Conversely, whenever the relative strength chart gives a double bottom sell signal (e.g. RS Sell or Negative Relative Strength) it suggests the stock will under-perform the market. Relative strength signals tend to last roughly 18 to 24 months on average. Consequently, changes from buy signals to sell signals (and vice versa) are important to be aware of as they are longer-term implications of a stock's likely performance versus the indices. Using the Point & Figure chart along with the relative strength chart will allow you to better ascertain risk-reward and other trade management tools, but we always want to over-weight our portfolios toward those stocks that are on RS buy signals, giving us the best chance of outperforming the broader market.
In the Optionable Universe, this week we saw 21 relative strength buy signals compared to 20 last week. On the sell side, there were 17 relative strength sell signals compared to 14 last week.
Stocks Moving to an RS Buy Signal
| Symbol | Company | Sector | Price | RS vs Market Signal | RS vs Market Column | RS vs Peer Signal | RS vs Peer Column | Tech Attrib |
|---|---|---|---|---|---|---|---|---|
| BLK | BlackRock, Inc. | Financial Services | 645.070 | Buy | X | Buy | X | 5  |
| TPR | Tapestry Inc. | Retail | 20.480 | Buy | X | Sell | X | 4 |
| CTG | Computer Task Group, Incorporated | Software | 5.750 | Buy | X | Sell | X | 3 |
| ENDP | Endo International PLC | Pharmaceuticals | 5.800 | Buy | X | Buy | X | 5 |
| FLEX | Flex Ltd | Industrial Goods & Svcs | 14.490 | Buy | X | Sell | X | 4 |
| COWN | Cowen Inc. | Financial Services | 18.960 | Buy | X | Buy | X | 5 |
| CMRE | Costamare Inc. | Industrial Goods & Svcs | 7.380 | Buy | X | Buy | X | 5 |
| MDRX | Allscripts-Misys Healthcare Solutions, Inc. | Software | 10.510 | Buy | X | Sell | X | 4 |
| R | Ryder System, Inc. | Industrial Goods & Svcs | 50.310 | Buy | X | Sell | X | 4 |
| STRL | Sterling Construction Company Inc | Construction | 17.070 | Buy | X | Sell | X | 4 |
| IOVA | Iovance Biotherapeutics Inc. | Biotechnology | 37.860 | Buy | X | Sell | X | 4 |
| GKOS | Glaukos Corp. | Medical Products | 55.850 | Buy | X | Sell | X | 4 |
| AQUA | Evoqua Water Technologies Corp | Water Utilities | 23.260 | Buy | X | Buy | X | 5 |
| CAT.TR | Caterpillar Inc. TR | Industrial Goods & Svcs | 174.127 | Buy | X | Sell | X | 3 |
| ANDE.TR | The Andersons, Inc. TR | Food and Beverage | 24.110 | Buy | X | Sell | X | 4 |
| APOG.TR | Apogee Enterprises, Inc. TR | Construction | 28.014 | Buy | X | Sell | X | 3 |
| WRK.TR | WestRock Co TR | Basic Resources | 42.318 | Buy | X | Sell | X | 4 |
| LEA.TR | Lear Corporation TR | Automobiles | 134.407 | Buy | X | Buy | X | 4 |
| R.TR | Ryder System, Inc. TR | Industrial Goods & Svcs | 53.850 | Buy | X | Sell | X | 4 |
| AQUA.TR | Evoqua Water Technologies Corp (TR) | Water Utilities | 23.260 | Buy | X | Buy | X | 5 |
| AIRO | Airspan Networks Inc. | Communications Technology | 8.530 | Buy | O | N/A | O |  |
Stocks Moving to a RS Sell Signal
| Symbol | Company | Sector | Price | RS vs Market Signal | RS vs Market Column | RS vs Peer Signal | RS vs Peer Column | Tech Attrib |
|---|---|---|---|---|---|---|---|---|
| CGEN | Compugen LTD. (Israel) ADR | Biotechnology | 14.670 | Sell | O | Buy | O | 2 |
| CHCO | City Holding | Financial Services | 59.000 | Sell | O | Buy | O | 1 |
| CNSL | Consolidated Communications Holding, Inc | Fixed Line Communications | 5.200 | Sell | O | Buy | O | 1 |
| GNMK | Genmark Diagnostics Inc | Medical Products | 11.410 | Sell | O | Sell | O | 1 |
| MLR | Miller Industries Inc TN | Industrial Goods & Svcs | 29.150 | Sell | O | Buy | O | 2 |
| PSB | PS Business Parks, Inc. | Equity REITs | 115.590 | Sell | O | Buy | O | 1 |
| PBYI | Puma Biotechnology Inc | Biotechnology | 9.450 | Sell | O | Sell | O | 0 |
| VRTX | Vertex Pharmaceuticals Incorporated | Biotechnology | 214.540 | Sell | O | Buy | O | 1 |
| WIFI | Boingo Wireless Inc | Technology Services | 9.460 | Sell | O | Sell | O | 0 |
| OUT | Outfront Media Inc. | Media | 13.800 | Sell | O | Buy | O | 1 |
| BCLI | Brainstorm Cell Therapeutics | Biotechnology | 10.150 | Sell | O | Sell | O | 0 |
| ADAP | Adaptimmune Therapeutics PLC | Healthcare | 5.390 | Sell | O | Sell | O | 0 |
| CLDR | Cloudera, Inc. | Software | 10.310 | Sell | O | Buy | O | 2 |
| MESO | Mesoblast Limited Sponsored ADR | Biotechnology | 11.870 | Sell | O | Sell | O | 0 |
| CME.TR | CME Group, Inc. TR | Financial Services | 168.571 | Sell | O | Buy | O | 1 |
| ADC.TR | Agree Realty Corporation TR | Equity REITs | 66.944 | Sell | O | Buy | O | 1 |
| WRI.TR | Weingarten Realty Investors TR | Equity REITs | 16.619 | Sell | O | Sell | O | 0 |
