AngloGold Ashanti had its Relative Strength (RS) Rating upgraded from 89 to 93 Tuesday.
IBD's unique rating identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks stacks up against all the other stocks in our database.
History shows that the best stocks tend to have an RS Rating north of 80 in the early stages of their moves.
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AngloGold Ashanti is now considered extended and out of buy range after clearing a 31.46 buy point in a third-stage double bottom. 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.
The company reported 0% EPS growth in the latest quarterly report, while sales growth came in at 31%. The next quarterly numbers are expected on or around Feb. 19.
AngloGold Ashanti earns the No. 7 rank among its peers in the Mining-Gold/Silver/Gems industry group. Agnico-Eagle Mines, Alamos Gold and Harmony Gold Mining ADR are among the top 5 highly rated stocks within the group.
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