On Friday, MAG Silver hit an important technical benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 84, up from 79 the day before.
IBD's unique RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks matches up against other publicly traded companies.
Decades of market research shows that the market's biggest winners typically have an RS Rating north of 80 as they launch their biggest climbs.
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While the stock is not near an ideal buy point right now, see if it goes on to form and break out of a proper base.
The company reported 20% earnings growth last quarter. Sales rose 0%.
MAG Silver earns the No. 28 rank among its peers in the Mining-Gold/Silver/Gems industry group. Alamos Gold, AngloGold Ashanti and DRDGOLD ADR 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.
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