Steel Dynamics had its Relative Strength (RS) Rating upgraded from 68 to 76 Monday — a welcome improvement, but still shy of the 80 or better score you look for.
This exclusive rating from Investor's Business Daily tracks price action with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the trailing 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history shows that the best stocks often have an 80 or better RS Rating in the early stages of their moves. See if Steel Dynamics can continue to show renewed price strength and hit that benchmark.
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Steel Dynamics is building a consolidation with a 155.56 buy point. See if the stock can break out in volume at least 40% higher than normal. Note that it's a third-stage base. Such patterns do sometimes lead to significant gains, but they're more likely to fail than earlier-stage consolidations.
Steel Dynamics reported negative growth for both sales and earnings last quarter. The company is expected to report its next quarterly numbers on or around Apr. 16.
Steel Dynamics earns the No. 4 rank among its peers in the Steel-Producers industry group. Tenaris ADR is the No. 1-ranked stock within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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