Valmont Industries saw a positive improvement to its Relative Strength (RS) Rating on Monday, with an increase from 78 to 82.
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IBD's proprietary RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks matches up against the rest of the market.
History reveals that the best stocks typically have an RS Rating of above 80 as they launch their biggest price moves.
Valmont Industries has moved more than 5% past a 327.31 entry in a first-stage cup with handle, meaning it's now out of a proper buy range. Look for the stock to create a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 3%, compared to 0% in the prior report. Revenue increased from -1% to 1%. The next quarterly numbers are expected on or around Oct. 22.
The company holds the No. 7 rank among its peers in the Metal-Fabricators industry group. Century Aluminum, Mueller Industries and Insteel Industries 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.
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