Granite Construction had its Relative Strength (RS) Rating upgraded from 78 to 85 Wednesday.
This proprietary rating measures market leadership by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
History reveals that the market's biggest winners typically have an RS Rating north of 80 in the early stages of their moves.
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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 buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
While the company's top line growth fell last quarter from 14% to 5%, the bottom line grew 45%, up from 19% in the previous report. Keep an eye out for the company's next round of numbers on or around May 1.
The company earns the No. 4 rank among its peers in the Building-Heavy Construction industry group. Argan is the top-ranked stock 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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