Stocks Flashing Renewed Technical Strength: West Fraser Timber
On Tuesday, West Fraser Timber reached a key performance benchmark, with its Relative Strength (RS) Rating climbing into the 80-plus percentile with an improvement to 81, an increase from 77 the day before.
When looking for the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's proprietary rating tracks market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the last 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history shows that the best stocks often have an 80 or better RS Rating as they launch their biggest climbs.
West Fraser Timber is working on a cup without handle with a 91.63 buy point. See if the stock can break out in volume at least 40% above average.
Earnings growth fell in the most recent report from 1,833% to 1,183%. But revenue gains moved higher, from 163% to 310%.
West Fraser Timber earns the No. 2 rank among its peers in the Building-Wood Products industry group. West Fraser Timber and U F P Industries are also among the group's highest-rated stocks.