On Friday, Valmont Industries hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 82, up from 78 the day before.
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This exclusive rating from Investor's Business Daily measures share price performance with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the last 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains tend to have an RS Rating of at least 80 in the early stages of their moves.
Valmont Industries is now considered extended and out of buy range after clearing a 327.31 buy point in a first-stage cup with handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
Earnings grew 3% last quarter, up from 0% in the prior report. Revenue also increased, from -1% to 1%.
Valmont Industries holds the No. 8 rank among its peers in the Metal-Fabricators industry group. Mueller Industries, Century Aluminum 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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