On Tuesday, MAG Silver hit an important technical benchmark, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 91, up from 88 the day before.
This unique rating identifies market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the last 52 weeks matches up against other publicly traded companies.
Over 100 years of market history reveals that the market's biggest winners often have an RS Rating of over 80 at the beginning of a new run.
Here Are 3 Keys For Successful Stock Investing
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock manages to offer and clear a proper buy point.
The company reported 20% earnings growth in its most recent report, while sales growth came in at 0%. Look for the next report on or around May 12.
MAG Silver earns the No. 23 rank among its peers in the Mining-Gold/Silver/Gems industry group. Alamos Gold, AngloGold Ashanti and Caledonia Mining are among the top 5 highly rated stocks 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.
RELATED:
IBD Stock Rating Upgrades: Rising Relative Strength
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!
