Beacon Roofing Supply saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, rising from 68 to 72.
This exclusive rating from Investor's Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the trailing 52 weeks compares to all the other stocks in our database.
Decades of market research shows that the best-performing stocks often have an RS Rating of over 80 in the early stages of their moves. See if Beacon Roofing Supply can continue to show renewed price strength and hit that benchmark.
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Beacon Roofing Supply broke out earlier, but is now trading around 4% below the prior 97.27 entry from a cup with handle. If a stock you're watching clears a buy point then falls 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new pattern and breakout. Also keep in mind that the most recent pattern is a later-stage base, and those involve more risk.
The company showed 0% earnings growth last quarter, while sales growth came in at 7%.
The company earns the No. 13 rank among its peers in the Building-Construction Products/Miscellaneous industry group. Armstrong Wrld Ind, Interface and Mueller Water Products are among the top 5 highly rated stocks within the group.
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