On Thursday, Tecnoglass cleared an important technical benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 87, up from 75 the day before.
This unique rating identifies market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
History shows that the market's biggest winners often have an RS Rating north of 80 in the early stages of their moves.
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Tecnoglass is working on a consolidation with an 86.99 entry. See if it can clear the breakout price in heavy trading. Be aware that it's a fourth-stage base. Such later-stage patterns involve more risk and are more likely to fail than first- or second-stage consolidations.
In terms of fundamentals, Tecnoglass has posted three quarters of rising earnings growth. Revenue growth has also increased over the same time frame. Tecnoglass is expected to release its next quarterly numbers on or around May 1.
The company holds the No. 2 rank among its peers in the Building-Construction Products/Miscellaneous industry group. Mueller Water Products is the top-ranked stock 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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