The Relative Strength (RS) Rating for ArcelorMittal ADR entered a new percentile Thursday, with an increase from 75 to 84.
This unique rating tracks technical performance by showing how a stock's price movement over the last 52 weeks compares to that of other stocks on the major indexes.
Decades of market research reveals that the market's biggest winners tend to have an RS Rating of above 80 as they launch their biggest runs.
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ArcelorMittal ADR has climbed more than 5% past a 26.89 entry in a first-stage consolidation, meaning it's now out of a proper buy zone. 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.
Earnings growth dropped in the most recent report from -43% to -56%. But revenue gains moved higher, from -9% to 1%.
ArcelorMittal ADR earns the No. 2 rank among its peers in the Steel-Producers industry group. Tenaris ADR is the top-ranked stock within the group.
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