On Monday before the open, Nucor got an upgrade to its Relative Strength (RS) Rating, from 77 to 82.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This proprietary rating identifies market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matches up against the rest of the market.
Decades of market research shows that the best-performing stocks tend to have an 80 or better RS Rating as they launch their biggest runs.
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Nucor is not now in any clearly defined buy range. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
NUE Earnings
Although earnings and sales growth came in at -27% and -16%, respectively, in the latest report, that showed improvement for both EPS and revenue.
Nucor earns the No. 4 rank among its peers in the Steel-Producers industry group. Tenaris ADR and Steel Dynamics are also among the group's highest-rated stocks.
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