Commercial Metals saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, with an upgrade from 78 to 81.
This exclusive rating from Investor's Business Daily tracks share price movement with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history shows that the best-performing stocks often have an RS Rating north of 80 in the early stages of their moves.
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While the stock is not near a proper buy zone right now, see if it manages to form and break out from a proper base.
Although earnings and sales growth came in at -43% and -10%, respectively, in the latest report, that shows two quarters of improvement for EPS and one for revenue. Commercial Metals is expected to release its next quarterly numbers on or around Jan. 6.
Commercial Metals holds the No. 8 rank among its peers in the Metal-Fabricators industry group. Northwest Pipe, RBC Bearings and Valmont Industries are among the top 5 highly rated stocks within the group.
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