On Friday, Southern Copper reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 82, up from 79 the day before.
IBD's proprietary RS Rating identifies technical performance by showing how a stock's price action over the last 52 weeks measures up against that of other stocks on the major indexes.
History shows that the market's biggest winners typically have an RS Rating of over 80 in the early stages of their moves.
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Southern Copper is building a consolidation with a 128.28 buy point. See if it can clear the breakout price in volume at least 40% above average.
The company showed 43% earnings growth in its most recent report, while sales growth came in at 17%.
The company holds the No. 1 rank among its peers in the Mining-Metal Ores industry group. Alcoa and Freeport-McMoRan are also among the group's highest-rated stocks.
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