On Thursday, Granite Construction got a positive adjustment to its Relative Strength (RS) Rating, from 77 to 81.
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This proprietary rating identifies technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research shows that the market's biggest winners often have an 80 or better RS Rating in the early stages of their moves.
Granite Construction has moved more than 5% past a 64.33 entry in a second-stage flat base, meaning it's now out of a proper buy range. Look for the stock to offer a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week moving average.
While the company's top line growth fell last quarter from 14% to 5%, the bottom line grew 45%, up from 19% in the prior report. The next quarterly numbers are expected on or around May 1.
Granite Construction holds the No. 4 rank among its peers in the Building-Heavy Construction industry group. Argan 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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