One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Beacon Roofing Supply just hit that mark, with a jump from 80 to 83 Tuesday.
IBD's proprietary RS 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.
Decades of market research reveals that the best stocks often have an 80 or higher RS Rating as they begin their biggest climbs.
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Beacon Roofing Supply is building a consolidation with a 116.30 entry. See if it can clear the breakout price in heavy trading.
Beacon Roofing Supply reported 0% earnings growth in its most recent report. Revenue rose 7%.
The company holds the No. 5 rank among its peers in the Building-Construction Products/Miscellaneous industry group. Mueller Water Products is the No. 1-ranked stock within the group.
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