The Relative Strength (RS) Rating for Core & Main jumped into a new percentile Friday, as it got a lift from 65 to 72.
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IBD's unique rating identifies price action with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the last 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the market's biggest winners often have an RS Rating north of 80 in the early stages of their moves. See if Core & Main can continue to rebound and clear that threshold.
Core & Main broke out earlier, but has fallen back below the prior 54.40 entry from a cup with handle. In the scenario where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new pattern to take shape. Also keep in mind that the latest pattern is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
Earnings growth decreased in the most recent report from 6% to -3%. But sales moved higher, from 12% to 18%. Keep an eye out for the company's next round of numbers on or around Jun. 10.
Core & Main earns the No. 3 rank among its peers in the Building-Construction Products/Miscellaneous industry group. Tecnoglass 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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