On Wednesday, Granite Construction earned a positive adjustment to its Relative Strength (RS) Rating, from 78 to 81.
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This unique rating identifies market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks matches up against that of all other stocks.
Decades of market research reveals that the best-performing stocks tend to have an RS Rating north of 80 as they launch their biggest price moves.
Granite Construction is trying to complete a consolidation with a 105.20 buy point. See if the stock can clear the breakout price in volume at least 40% higher than normal. Keep in mind that it's a later-stage consolidation, and those are riskier than earlier-stage patterns.
Granite Construction reported 0% EPS growth last quarter, while sales growth came in at 4%.
The company earns the No. 9 rank among its peers in the Building-Heavy Construction industry group. Construction Ptrs Cl A, Primoris Services and Argan 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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