On Monday, MAG Silver cleared a key technical benchmark, with its Relative Strength (RS) Rating moving into the 90-plus percentile with an upgrade to 91, a rise from 85 the day before.
How To Use Stock Charts To Stay Profitable And Protected
IBD's proprietary rating measures price movement with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.
History reveals that the best-performing stocks tend to have an RS Rating of at least 80 in the early stages of their moves.
MAG Silver is trying to complete a consolidation with a 17.35 entry. See if it can clear the breakout price in heavy trade.
The stock's relative strength line is in new high ground, a bullish indicator ahead of a potential breakout.
MAG Silver showed 93% earnings growth in the latest quarterly report, while sales growth came in at 0%.
MAG Silver holds the No. 23 rank among its peers in the Mining-Gold/Silver/Gems industry group. Agnico-Eagle Mines, Alamos Gold and AngloGold Ashanti are among the top 5 highly rated stocks 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.
RELATED:
IBD Stock Rating Upgrades: Rising Relative Strength
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
