On Tuesday, Beacon Roofing Supply reached a key performance benchmark, with its Relative Strength (RS) Rating entering into the 80-plus percentile with an improvement to 85, a rise from 74 the day before.
This exclusive rating from Investor's Business Daily tracks share price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
Decades of market research shows that the best-performing stocks often have an RS Rating of above 80 in the early stages of their moves.
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Beacon Roofing Supply has moved more than 5% past a 97.27 entry in a first-stage cup with handle, meaning it's now out of a proper buy range. Look for the stock to create a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week line.
The company posted 0% EPS growth in its most recent report, while sales growth came in at 7%.
The company earns the No. 12 rank among its peers in the Building-Construction Products/Miscellaneous industry group. Mueller Water Products, Armstrong Wrld Ind and Owens Corning are among the top 5 highly rated stocks within the group.
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