On Tuesday, OR Royalties cleared an important technical benchmark, with its Relative Strength (RS) Rating jumping into the 90-plus percentile with an improvement to 93, up from 90 the day before.
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IBD's proprietary rating tracks price action with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks stacks up against all the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains typically have an 80 or higher RS Rating as they begin their biggest price moves.
OR Royalties has moved more than 5% past a 20.73 entry in a first-stage double bottom, meaning it's now out of a proper buy zone. Look for the stock to create a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
OR Royalties reported 33% earnings growth in the latest quarterly report, while sales growth came in at 22%. Look for the next report on or around Aug. 5.
The company earns the No. 1 rank among its peers in the Mining-Gold/Silver/Gems industry group. Alamos Gold and AngloGold Ashanti are also among the group's highest-rated stocks.
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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