Steel Dynamics had its Relative Strength (RS) Rating upgraded from 70 to 73 Friday — a welcome improvement, but still short of the 80 or higher score you prefer to see.
This unique rating identifies market leadership by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Over 100 years of market history reveals that the market's biggest winners tend to have an 80 or higher 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 not currently near a potential buying area. See if the stock goes on to form a chart pattern that could ignite a new run.
Although earnings and sales growth came in at -41% and -5%, respectively, in the latest report, that marked acceleration for both EPS and revenue.
The company earns the No. 2 rank among its peers in the Steel-Producers industry group. Tenaris ADR is the No. 1-ranked stock within the group.
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