Linde Stock Shows Unusual Strength; Nearing All-Time High

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.

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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.

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Linde Stock Roller Coaster Ride Over?

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.

Its Group Also Ranks High

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.

Please follow James DeTar on Twitter @JimDeTar 

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