On Tuesday, Knife River cleared a key technical benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 86, up from 80 the day before.
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This unique rating identifies market leadership by showing how a stock's price movement over the last 52 weeks compares to that of other stocks on the major indexes.
Decades of market research reveals that the stocks that go on to make the biggest gains typically have an RS Rating of over 80 in the early stages of their moves.
Knife River is working on a consolidation with a 108.83 entry. See if the stock can break out in heavy volume. Note that it's a third-stage base. Later-stage patterns can work, but have a higher failure rate since, by that point, the stock has already made a significant climb..
Earnings growth dropped last quarter from 14% to 0%. But sales moved higher, from 2% to 7%.
The company holds the No. 2 rank among its peers in the Building-Cement/Concrete/Aggregates industry group. U.S. Lime & Minerals 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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