Piedmont Lithium saw a welcome improvement to its Relative Strength (RS) Rating on Monday, with an increase from 83 to 92.
When looking for the best stocks to buy and watch, keep a close on eye on relative price strength. IBD's proprietary rating identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks compares to all the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains often have an RS Rating north of 80 in the early stages of their moves.
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Piedmont Lithium stock is building back towards an earlier failed buy point from a cup with handle. No new pattern recognition is showing up on MarketSmith charts, so look for the stock to create a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Earnings Report
The company reported -300% EPS growth in the latest quarterly report, while sales growth came in at 0%. Not the best looking earnings release.
The company holds the No. 15 rank among its peers in the Mining-Metal Ores industry group. Mesabi Trust, Teck Resources and Cameco are among the top 5 highly rated stocks within the group.
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