Mueller Industries saw a welcome improvement to its Relative Strength (RS) Rating on Friday, with an upgrade from 78 to 84.
IBD's unique RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the last 52 weeks matches up against that of all other stocks.
Decades of market research reveals that the best stocks typically have an RS Rating north of 80 in the early stages of their moves.
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Mueller Industries is trying to complete a consolidation with a 96.81 buy point. See if it can clear the breakout price in heavy volume. Note that it's a sixth-stage base. Later-stage patterns can work, but have a higher likelihood of failure since, by that point, the stock has already risen significantly..
Earnings-per-share growth decreased last quarter from 26% to 15%, but revenue rose from 22% to 26%.
Mueller Industries earns the No. 1 rank among its peers in the Metal-Fabricators industry group. RBC Bearings and Northwest Pipe are also among the group's highest-rated stocks.
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