When the market
is correcting, it’s wise to put stocks that are holding up well on your Watch
List because they are the likely leaders when a new uptrend begins, according
to Investor’s Business Daily. Tempur-Pedic (TPX) is jus that type of stock, as
it has been showing strength in recent weeks.
TPX has not
fallen below its 10-week moving average for several months and when it did dip
to the line, the stock bounced off and closed near the top of its range for the
day, IBD reported.
Additionally,
TPX’s Relative Strength line is hitting a new high. According to IBD, the stock’s
volume has been above average during its up weeks, indicating that
institutional investors are buying shares.
Tempur-Pedix
(TPX) is a
Cabot Top Ten Report stock.