Commercial Metals had its Relative Strength (RS) Rating upgraded from 64 to 75 Thursday — a welcome improvement, but still shy of the 80 or higher score you prefer to see.
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This unique rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the best stocks tend to have an 80 or higher RS Rating in the early stages of their moves. See if Commercial Metals can continue to rebound and clear that threshold.
Commercial Metals is now considered extended and out of buy range after clearing a 53.59 buy point in a first-stage cup with handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Although earnings and sales growth came in at -27% and -3%, respectively, in the latest report, that showed improvement for both EPS and revenue.
The company holds the No. 12 rank among its peers in the Metal-Fabricators industry group. Century Aluminum, Mueller Industries 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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