When building your watch list, look for stocks with an 80 or higher RS Rating. United States Steel now meets that criteria, with a jump from 80 to 84 Friday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This unique rating tracks technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the trailing 52 weeks matches up against other publicly traded companies.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains often have an RS Rating of above 80 in the early stages of their moves.
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The stock recently gave back all gains from a recent breakout past the pivot of $28.36 So, while it's not currently an ideal time to jump in, see if the stock manages to form another base and break out. Today's action looks promising, but it still has some overhead resistance at key moving averages.
Earnings News
While sales growth fell last quarter from 119% to 43%, earnings-per-share grew 182%, up from 0% in the previous report.
United States Steel holds the No. 9 rank among its peers in the Steel-Producers industry group. Tenaris and Nucor are also among the group's highest-rated stocks.
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