One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Fluor cleared that benchmark Monday, with a jump from 78 to 83 Monday.
This unique rating identifies technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the trailing 52 weeks matches up against the rest of the market.
Decades of market research shows that the top-performing stocks tend to have an RS Rating north of 80 as they begin their biggest climbs.
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While the stock is not near a proper buy zone right now, see if it manages to form and break out from a proper chart pattern.
Fluor reported -50% EPS growth last quarter, while sales growth came in at 3%.
The company holds the No. 10 rank among its peers in the Building-Heavy Construction industry group. Argan, Great Lakes Dredge and Quanta Services are among the top 5 highly rated stocks within the group.
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