In a welcome move, Granite Construction saw its Relative Strength Rating improve from 68 to 71 on Monday.
IBD's unique RS Rating identifies market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research shows that the best stocks tend to have an RS Rating north of 80 as they begin their largest climbs. See if Granite Construction can continue to rebound and clear that threshold.
When To Sell Stocks To Lock In Profits And Minimize Losses
Granite Construction has climbed more than 5% past a 64.33 entry in a second-stage flat base, 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.
While sales growth fell last quarter from 14% to 5%, the bottom line grew 45%, up from 19% in the previous report.
Granite Construction earns the No. 6 rank among its peers in the Building-Heavy Construction industry group. Argan, Ferrovial and Primoris Services are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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