When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is Piedmont Lithium, which saw a welcome improvement to its Relative Strength (RS) Rating on Tuesday, rising from 90 to 94.
When you're researching the best stocks to buy and watch, be sure to pay attention to relative price strength. This exclusive rating from Investor's Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the last 52 weeks holds up against all the other stocks in our database.
Decades of market research reveals that the stocks that go on to make the biggest gains typically have an 80 or better RS Rating in the early stages of their moves.
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Mining Industry
Piedmont Lithium stock has had a big move in recent weeks, looking extended. See if the stock forms a new pattern offering a new buying opportunity. Earnings are due in just a few days, so that is also a risk.
The company showed -300% EPS growth last quarter, while sales growth came in at 0%.
The company holds the No. 24 rank among its peers in the Mining-Metal Ores industry group. Alcoa, M P Materials and BHP Billiton are among the top 5 highly rated stocks within the group.
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