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On Monday, Cytyc hit a new high as it cleared a 41-week base on double typical volume. The stock closed 4% above its pivot point of 22.79.
In the past six weeks, its Relative Price Strength Rating has improved to 82from 46. Its Relative Strength Line is at a new high, a bullish sign.
The Boxborough, Mass.-based firm makes medical preparation systems. Its ThinPrep Systems is an alternative to the Pap smear test, and can also be used for cancer analysis of tissues.
Earnings growth has been in the triple digits for at least nine quarters. Last week, Cytyc announced that fiscal first-quarter profit rose 233% to 10 cents a share, beating estimates by 2 cents.
Sales growth has slowed in the past three quarters, from 78% to 74% to 72% to 65%. But it has been 65% or higher in the past nine quarters.
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