In a welcome move, Kennametal saw its Relative Strength Rating improve from 67 to 71 on Tuesday.
This exclusive rating from Investor's Business Daily measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the last 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history shows that the market's biggest winners often have an RS Rating north of 80 as they launch their biggest price moves. See if Kennametal can continue to show renewed price strength and clear that threshold.
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Kennametal is now considered extended and out of buy range after clearing a 26.80 buy point in a first-stage flat base. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
The company reported negative growth for both sales and earnings last quarter.
Kennametal holds the No. 8 rank among its peers in the Machinery-Tools & Related industry group. Enerpac Tool Group, WW Grainger and Applied Indl Techs are among the top 5 highly rated stocks within the group.
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