On Monday, Constellium Cl A cleared a noteworthy technical benchmark, with its Relative Strength (RS) Rating jumping into the 80-plus percentile with an upgrade to 85, a rise from 79 the day before.
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IBD's unique rating identifies price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the trailing 52 weeks holds up against all the other stocks in our database.
History shows that the best stocks often have an RS Rating north of 80 in the early stages of their moves.
Constellium Cl A is now considered extended and out of buy range after clearing a 12.40 buy point in a first-stage cup without 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.
The company saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 0% to 86%. Revenue rose from -3% to 5%. The company is expected to report its latest numbers on or around Jul. 23.
The company earns the No. 3 rank among its peers in the Steel-Specialty Alloys industry group. Carpenter Technology is the top-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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