On Tuesday, Arconic (ARNC) got a positive adjustment to its Relative Strength (RS) Rating, from 79 to 82.
This proprietary rating measures technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matches up against other publicly traded companies.
Decades of market research reveals that the best-performing stocks tend to have an RS Rating north of 80 in the early stages of their moves.
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Arconic is still inside a buy range after breaking past a 30.79 entry in a consolidation. The proper buying range extends to 5% above the initial entry. Once a stock moves above that range, it's best to wait for it to set up another buying opportunity.
Earnings growth fell in the most recent report from 59% to -15%. But revenue moved higher, from 1% to 3%. Keep an eye out for the company's next round of numbers on or around Jan. 31.
Arconic earns the No. 13 rank among its peers in the Mining-Metal Ores industry group. BHP Billiton (BBL), BHP Billiton (BHP) and Mesabi Trust (MSB) are among the top 5 highly rated stocks within the group.
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