On Thursday, Lithium Americas earned an upgrade, before the open, to its Relative Strength (RS) Rating, from 90 to 93.
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength. IBD's proprietary rating tracks market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the trailing 52 weeks stacks up against all the other stocks in our database.
History shows that the stocks that go on to make the biggest gains typically have an RS Rating north of 80 at the beginning of a new run.
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Lithium Americas is now out of a proper buy range after failing to clear a prior cup with handle buy point of $40.49. Look for the stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week moving average. Better still, a definitive pattern.
Earnings Report
The company reported 25% EPS growth in the latest quarterly report, while sales growth came in at -100%.
Lithium Americas earns the No. 14 rank among its peers in the Mining-Metal Ores industry group. Cameco, Teck Resources and Mesabi Trust are among the top 5 highly rated stocks within the group.
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