On Tuesday, Carpenter Technology stock cleared a noteworthy performance benchmark, with its Relative Strength (RS) Rating entering into the 90-plus percentile with an upgrade to 93, a rise from 90 the day before.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. This unique rating measures market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks matches up against all other stocks in our database.
Over 100 years of market history shows that the best stocks typically have an RS Rating of over 80 as they begin their biggest runs.
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Is Carpenter Technology Stock A Buy?
Carpenter Technology stock is trading in a cup-with-handle pattern with a 39.46 entry point. See if the stock can break out on heavy volume. Be extra cautious as the current market is under pressure and breakouts tend to fail. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
While revenue growth fell last quarter from 39% to 34%, earnings-per-share grew 96%, up from 0% in the previous report.
Carpenter Technology stock earns the No. 4 rank among its peers in the Steel-Specialty Alloys industry group. A T I and Howmet Aerospace are among the top 5 highly rated stocks within the group.
