Century Aluminum Joins Rank Of Stocks With RS Ratings Over 90
When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is Century Aluminum, which saw a welcome improvement to its Relative Strength (RS) Rating on Tuesday, with an increase from 83 to 93.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength. IBD's proprietary rating tracks market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the last 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the best stocks typically have an RS Rating north of 80 in the early stages of their moves.
Century Aluminum is trying to complete a cup without handle with a 19.70 entry. See if the stock can break out in heavy volume. Be aware that it's a second-stage base. Such later-stage patterns are more and have a higher likelihood to fail than first- or second-stage consolidations.
Earnings growth slowed in the most recent report from 0% to -42%. But sales moved higher, from 5% to 31%. The next quarterly numbers are expected on or around Oct. 29.
The company holds the No. 17 rank among its peers in the Metal-Fabricators industry group. Mueller Industries, Schnitzer Steel Industries and Commercial Metals are among the top 5 highly rated stocks within the group.