Barrick Mining saw a positive improvement to its Relative Strength (RS) Rating on Monday, rising from 78 to 81.
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This unique rating identifies market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks matches up against other publicly traded companies.
Decades of market research reveals that the market's biggest winners often have an RS Rating of over 80 as they begin their biggest runs.
Barrick Mining broke out earlier, but has fallen back below the prior 21.70 entry from a flat base. In the scenario where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new pattern to form. Also understand that the latest consolidation is a later-stage base, and those involve more risk.
Earnings growth moved up last quarter from 70% to 84%, but the top line fell from 19% to 14%. Keep an eye out for the company's next round of numbers on or around Aug. 11.
Barrick Mining earns the No. 1 rank among its peers in the Mining-Gold/Silver/Gems industry group. AngloGold Ashanti and Barrick Mining are also among the group's highest-rated stocks.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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