One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Steel producer Cleveland-Cliffs now clears that threshold, with a jump from 77 to 83 Monday.
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.
This exclusive rating from Investor's Business Daily tracks share price movement with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the last 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the market's biggest winners often have an 80 or better RS Rating as they begin their biggest runs.
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While the stock is not near an ideal buying range right now, see if it is able to form and break out from a proper consolidation as it continues to build on recent earnings.
CLF Earnings
Cleveland-Cliffs saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -48% to 86%. Revenue rose from -6% to -1%.
Cleveland-Cliffs earns the No. 4 rank among its peers in the Steel-Producers industry group. TERNIUM ADR and Steel Dynamics are also among the group's highest-rated stocks.
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