The Relative Strength (RS) Rating for Nucor entered a higher percentile Tuesday, as it got a lift from 69 to 75.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This exclusive rating from Investor's Business Daily measures share price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the last 52 weeks compares to all the other stocks in our database.
Over 100 years of market history shows that the best stocks often have an RS Rating of over 80 in the early stages of their moves. See if Nucor can continue to show renewed price strength and clear that threshold.
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Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock goes on to establish and enter a buying range in heavy volume. One good sign is it is clearing resistance of key moving averages.
Earnings News
Nucor posted 147% EPS growth last quarter, while sales growth came in at 50%. Look for the next report on or around Jul. 22.
The company earns the No. 4 rank among its peers in the Steel-Producers industry group. Steel Dynamics and Grupo Simec are also among the group's highest-rated stocks.
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