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Investors Business Daily
Investors Business Daily
Business
INVESTOR'S BUSINESS DAILY

Kennametal Scores Relative Strength Rating Upgrade; Hits Key Threshold

The Relative Strength (RS) Rating for Kennametal jumped into a new percentile Thursday, with an increase from 62 to 84.

This unique rating identifies technical performance by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.

Decades of market research shows that the market's biggest winners typically have an RS Rating north of 80 as they launch their biggest climbs.

Risk Management In The Stock Market: How Much Money To Invest Now

Kennametal has risen more than 5% past a 26.80 entry in a first-stage flat base, meaning it's now out of a proper buy zone. Look for the stock to offer a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.

Kennametal reported negative growth for both the top and bottom lines last quarter.

The company earns the No. 7 rank among its peers in the Machinery-Tools & Related industry group. Enerpac Tool Group, WW Grainger and Applied Indl Techs are among the top 5 highly rated stocks within the group.

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