When putting together your watch list, focus on stocks with an 80 or higher RS Rating. Valmont Industries now meets that criteria, with a jump from 66 to 80 Monday.
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This proprietary rating measures technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks matches up against that of all other stocks.
Over 100 years of market history reveals that the best-performing stocks tend to have an 80 or better RS Rating as they launch their biggest price moves.
Valmont Industries broke out earlier, but has fallen back below the prior 327.31 entry from a cup with handle. If a stock you're watching climbs above a buy point then falls 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new consolidation and breakout. Also keep in mind that the latest consolidation is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
The company reported 0% EPS growth last quarter. Sales rose -1%. The company is expected to report its latest numbers on or around Jul. 16.
Valmont Industries earns the No. 4 rank among its peers in the Metal-Fabricators industry group. Insteel Industries is the No. 1-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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