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Investors Business Daily
Investors Business Daily
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INVESTOR'S BUSINESS DAILY

MGE Energy Reaches 80-Plus Relative Strength Rating Benchmark

On Friday, MGE Energy hit an important technical milestone, with its Relative Strength (RS) Rating rising into the 80-plus percentile with an upgrade to 81, up from 76 the day before.

IBD's proprietary RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the last 52 weeks matches up against that of all other stocks.

Over 100 years of market history shows that the best stocks often have an 80 or higher RS Rating in the early stages of their moves.

Hone Your Stock-Picking Skills By Focusing On These Factors

MGE Energy has risen more than 5% past a 90.00 entry in a first-stage flat base, meaning it's now out of a proper buy zone. Look for the stock to offer a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week moving average.

MGE Energy saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -16% to 8%. Revenue rose from -2% to 5%.

The company earns the No. 8 rank among its peers in the Utility-Diversified industry group. Chesapeake Utilities, NiSource and Ameren Corp are among the top 5 highly rated stocks within the group.

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