Commercial Metals saw a welcome improvement to its Relative Strength (RS) Rating on Wednesday, rising from 70 to 75.
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This exclusive rating from Investor's Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the last 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history shows that the best stocks often have an 80 or higher RS Rating in the early stages of their moves. See if Commercial Metals can continue to rebound and hit that benchmark.
Commercial Metals has risen more than 5% past a 53.59 entry in a first-stage cup with handle, meaning it's now out of a proper buy zone. Look for the stock to offer a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
Although earnings and sales growth came in at -27% and -3%, respectively, in the latest report, that marked acceleration for both the top and bottom lines.
Commercial Metals earns the No. 12 rank among its peers in the Metal-Fabricators industry group. Mueller Industries, Century Aluminum and Insteel Industries are among the top 5 highly rated stocks 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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