In a welcome move, Kennametal saw its Relative Strength Rating improve from 69 to 74 on Monday.
How To Invest In Stocks In Both Bull And Bear Markets
IBD's unique RS Rating identifies technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the trailing 52 weeks compares to other publicly traded companies.
Over 100 years of market history reveals that the best stocks tend to have an 80 or higher RS Rating in the early stages of their moves. See if Kennametal can continue to rebound and hit that benchmark.
Kennametal is trying to complete a cup without handle with a 32.18 buy point. See if it can break out in volume at least 40% higher than normal.
In terms of top and bottom line numbers, the company has posted two quarters of increasing earnings growth. Revenue gains have been a different story, coming in at -6% in the most recent quarterly report. The company is expected to release its next quarterly numbers on or around Aug. 6.
The company earns the No. 6 rank among its peers in the Machinery-Tools & Related industry group. Fastenal, Applied Indl Techs and Lincoln Electric 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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