CNH Industrial had its Relative Strength (RS) Rating upgraded from 80 to 83 Thursday.
This unique rating tracks market leadership by showing how a stock's price action over the last 52 weeks measures up against that of other stocks on the major indexes.
Decades of market research shows that the best stocks typically have an RS Rating of above 80 in the early stages of their moves.
Risk Management In The Stock Market: How Much Money To Invest Now
CNH Industrial broke out earlier, but has fallen back below the prior 12.76 entry from a cup with handle. If a stock you're watching clears a buy point then retreats 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new consolidation and breakout. Also understand that the latest pattern is a later-stage base, and such bases are more prone to failure.
The company reported negative growth for both sales and earnings last quarter.
The company holds the No. 1 rank among its peers in the Machinery-Construction/Mining industry group. Caterpillar and Astec Industries are also among the group's highest-rated stocks.
RELATED:
Which Stocks Are Showing Improved Technical Action?
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
