Cleveland-Cliffs saw a welcome improvement to its Relative Strength (RS) Rating on Tuesday, rising from 67 to 74.
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IBD's proprietary RS Rating tracks technical performance by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
History reveals that the best stocks typically have an 80 or higher RS Rating as they launch their biggest price moves. See if Cleveland-Cliffs can continue to show renewed price strength and clear that threshold.
While now is not an ideal time to jump in, see if the stock goes on to establish and enter a buying range in heavy volume.
Cleveland-Cliffs posted 0% earnings growth in its most recent report, while sales growth came in at -3%.
The company holds the No. 5 rank among its peers in the Steel-Producers industry group. ArcelorMittal ADR is the No. 1-ranked stock within the group.
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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