When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is Piedmont Lithium, which had its Relative Strength (RS) Rating upgraded from 80 to 84 Tuesday.
When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength.
This exclusive rating from Investor's Business Daily measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the last 52 weeks compares to all the other stocks in our database.
History shows that the market's biggest winners typically have an RS Rating north of 80 as they launch their biggest climbs.
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Piedmont Lithium has been trading sideways since a long-ago first-stage consolidation, meaning it's now out of a proper buy range. Look for the stock to create a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line. It has not had a down day in the past three weeks, so extra caution is the order of the day.
Earnings Update
The company posted -300% EPS growth in its most recent report, while sales growth came in at 0%. Keep an eye out for the company's next round of numbers on or around Mar. 11.
Piedmont Lithium stock earns the No. 24 rank among its peers in the Mining-Metal Ores industry group. BHP Billiton and Freeport McMoRan are also among the group's highest-rated stocks.
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