One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Transalta Corp now clears that threshold, with a jump from 74 to 81 Friday.
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This unique rating tracks market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the trailing 52 weeks matches up against other publicly traded companies.
Decades of market research reveals that the best stocks often have an 80 or better RS Rating as they launch their biggest runs.
Transalta Corp is now considered extended and out of buy range after clearing a 10.40 buy point in a first-stage cup without 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.
Transalta Corp posted negative growth for both the top and bottom lines last quarter. Transalta Corp is expected to report its next quarterly numbers on or around Aug. 1.
The company earns the No. 18 rank among its peers in the Utility-Electric Power industry group. Korea Electric Power ADR, Eversource Energy and Southern 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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