On Wednesday, Valmont Industries reached a noteworthy technical benchmark, with its Relative Strength (RS) Rating climbing into the 80-plus percentile with an improvement to 81, up from 73 the day before.
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IBD's proprietary RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks matches up against the rest of the market.
Decades of market research reveals that the best stocks tend to have an 80 or better RS Rating in the early stages of their moves.
Valmont Industries has climbed more than 5% past a 327.31 entry in a first-stage cup with handle, meaning it's now out of a proper buy zone. Look for the stock to create a new chance to pick up shares 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%.
The company holds the No. 7 rank among its peers in the Metal-Fabricators industry group. Century Aluminum, Insteel Industries and Mueller 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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