Alcoa saw a welcome improvement to its Relative Strength (RS) Rating on Friday, rising from 69 to 76.
IBD's unique RS Rating identifies technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks matched up against all other stocks.
Decades of market research shows that the stocks that go on to make the biggest gains typically have an RS Rating of over 80 in the early stages of their moves. See if Alcoa can continue to show renewed price strength and hit that benchmark.
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Alcoa is working on a consolidation with a 47.77 entry. See if the stock can break out in volume at least 40% higher than normal.
Alcoa posted 0% EPS growth in the latest quarterly report, while sales growth came in at 12%. The company is expected to report its latest earnings and sales numbers on or around Jan. 22.
Alcoa earns the No. 4 rank among its peers in the Mining-Metal Ores industry group. Mesabi Trust is the top-ranked stock within the group.
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