Credit: Shutterstock photoThe Relative Strength ( RS ) Rating for United States Steel ( X ) entered a new percentile Monday, with an increase from 78 to 81.
[ibd-display-video id=2385970 width=50 float=left autostart=true] IBD's unique rating identifies price action with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains often have an 80 or higher RS Rating as they launch their biggest price moves.
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United States Steel is now considered extended and out of buy range after clearing a 28.45 buy point in a first-stage consolidation . See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
Earnings growth rose last quarter from 0% to 130%, but revenue fell from 22% to 21%.
The company holds the No. 4 rank among its peers in the Steel-Producers industry group. Steel Dynamics ( STLD ) is the No. 1-ranked stock within the group.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
