In a welcome move, MAG Silver saw its Relative Strength Rating rise from 67 to 74 on Tuesday.
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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 action over the last 52 weeks compares to the rest of the market.
Decades of market research shows that the market's biggest winners tend to have an RS Rating of above 80 as they begin their biggest runs. See if MAG Silver can continue to show renewed price strength and clear that threshold.
MAG Silver is trying to complete a cup with handle with a 16.49 buy point. See if the stock can clear the breakout price in volume at least 40% higher than normal.
The company reported 20% earnings growth in the latest quarterly report. Revenue gains came in at 0%. The next quarterly results are expected on or around May 12.
The company holds the No. 30 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.
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