On Tuesday, Mueller Industries stock earned an upgrade to its Relative Strength (RS) Rating, from 89 to 92.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD's unique RS Rating identifies market leadership by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains often have an RS Rating of above 80 as they launch their biggest runs.
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Is Mueller Industries Stock A Buy?
Mueller Industries stock is trying to complete a consolidation with a 63.17 entry. See if it can break out in heavy volume. Note that it's a third-stage base. Such patterns do sometimes lead to significant gains, but, statistically, they're more likely to fail than earlier-stage consolidations.
The stock's relative strength line is in new high territory, a bullish indicator ahead of a potential breakout.
The metal fabricator firm showed 150% EPS growth in its most recent report, while sales growth came in at 23%.
Mueller Industries stock holds the No. 6 rank among its peers in the Metal-Fabricators industry group. Insteel Industries, Northwest Pipe and Commercial Metals are among the top 5 highly rated stocks within the group.
