The Relative Strength (RS) Rating for US Steel climbed into a new percentile Wednesday, with an increase from 78 to 81.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This unique rating identifies market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the last 52 weeks matches up against other publicly traded companies.
Over 100 years of market history reveals that the best-performing stocks tend to have an RS Rating of at least 80 as they begin their biggest climbs.
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US Steel is not currently near a potential buy zone. It is currently finding resistance clearing the 10-day moving average. Let's see if the stock goes on to form a promising consolidation that could spark a new run.
The company reported negative growth for both sales and earnings last quarter.
The company earns the No. 9 rank among its peers in the Steel-Producers industry group. Tenaris ADR and Nucor are also among the group's highest-rated stocks.
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