Linde Stock Shows Unusual Strength; Nearing All-Time High – Investor's Business Daily

BREAKING: Market Closes Mixed As Dow, S&P 500 Shed Gains 

Talk about ubiquitous market coverage! Industrial gases production giant Linde has its thumb in nearly every industrial pie: health care, electronics, clean energy production, food and beverages and many more. On Monday, Linde (LIN) earned an upgrade to its Relative Strength (RS) Rating, from 79 to 82. Linde stock rose.
The raised 82 RS Rating means that U.K.-based Linde has performed in the top 18% of all stocks in IBD’s database. Over 100 years of market history shows that top-performing stocks typically have an RS Rating of at least 80 in the early stages of their moves. When researching the best stocks to buy and watch, relative price strength is a key indicator.
Looking For Winning Stocks? Try This Simple Routine
Because of the bear market last year, Linde stock has been on a roller-coaster ride. However it continues to show unusual strength, including double-digit sales and profit growth every quarter for the past year. Additionally, after falling as low as 265 last July, its nearing its all-time high of 352.18 set in January 2022. On Monday afternoon, Linde stock traded around 323, up more than 2% for the day. Although now is not an ideal time to jump in because it isn’t in a proper buy zone, Linde is a good stock watchlist candidate.
Earnings grew 14% last quarter to $3.10 per share. Sales grew 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.
Linde stock holds the No. 5 rank among its peers in the Chemicals-Specialty industry group. CSW Industrials (CSWI) and Air Products & Chemicals (APD) are also among the group’s highest-rated stocks. The group itself has an impressive No. 5 rank on IBD’s list of 197 industries.
The exclusive Relative Strength Rating from Investor’s Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock’s price behavior over the trailing 52 weeks holds up against all the other stocks in our database.
Get these newsletters delivered to your inbox & more info about our products & services. Privacy Policy & Terms of Use
Please follow James DeTar on Twitter @JimDeTar 
YOU MAY ALSO LIKE:
Get Full Access To IBD Stock Lists And Ratings
IBD Stock Rating Upgrades: Rising Relative Strength
Why Should You Use IBD’s Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Identify Bases And Buy Points With Pattern Recognition From MarketSmith
10/13/2022 A Relative Strength Rating upgrade for Linde shows improving technical performance. Will it continue?
10/13/2022 A Relative Strength Rating upgrade for Linde shows improving technical…
President Biden’s Job Approval jumped 10% to 44%. The Presidential Leadership Index rose 7.2% to 47.8, still below the 50 benchmark to indicate optimism.
Get instant access to exclusive stock lists, expert market analysis and powerful tools with 2 months of IBD Digital for only $20!
Get market updates, educational videos, webinars, and stock analysis.
Learn how you can make more money with IBD’s investing tools, top-performing stock lists, and educational content.
Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the stocks they discuss. The information and content are subject to change without notice.
*Real-time prices by Nasdaq Last Sale. Realtime quote and/or trade prices are not sourced from all markets.
Ownership data provided by Refinitiv and Estimates data provided by FactSet.
© 2000-2023 Investor’s Business Daily, LLC. All rights reserved

source