On Wednesday, Cameco reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 84, up from 76 the day before.
This exclusive rating from Investor's Business Daily measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the last 52 weeks compares to all the other stocks in our database.
Over 100 years of market history reveals 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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Cameco broke out earlier, but is now about 4% below the prior 56.24 entry from a consolidation. If a stock you're watching climbs above 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 pattern and breakout. Also keep in mind that the most recent pattern is a later-stage base, and those involve more risk.
The company reported 0% EPS growth last quarter, while sales growth came in at 25%.
The company earns the No. 4 rank among its peers in the Mining-Metal Ores industry group. Southern Copper is the top-ranked stock within the group.
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