One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Steel producer Cleveland-Cliffs (CLF) now clears that threshold, with a jump from 77 to 83 Monday.
X
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.
This exclusive rating from Investor’s Business Daily tracks share price movement with a 1 (worst) to 99 (best) score. The grade shows how a stock’s price movement over the last 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the market’s biggest winners often have an 80 or better RS Rating as they begin their biggest runs.
Looking For Winning Stocks? Try This Simple Routine
While the stock is not near an ideal buying range right now, see if it is able to form and break out from a proper consolidation as it continues to build on recent earnings.
CLF Earnings
Cleveland-Cliffs saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -48% to 86%. Revenue rose from -6% to -1%.
Cleveland-Cliffs earns the No. 4 rank among its peers in the Steel-Producers industry group. TERNIUM ADR (TX) and Steel Dynamics (STLD) are also among the group’s highest-rated stocks.
Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks
YOU MAY ALSO LIKE:
Join IBD Live And Learn Top Chart-Reading And Trading Techniques From The Pros
MarketSmith’s Tools Can Help The Individual Investor
Profit From Short-Term Trends With SwingTrader
Get Timely Buy &
Sell Alerts With IBD Leaderboard
Find The Best Long-Term Investments With IBD Long-Term Leaders
IBD Digital: Get access to subscriber-only stock lists and market analysis. Plus, add the weekly print edition for your weekend prep.
Checkout latest world news below links :
World News || Latest News || U.S. News
The post Cleveland-Cliffs Stock Shows Rising Relative Strength Upgrade appeared first on WorldNewsEra.