When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is Carpenter Technology (CRS), which had its Relative Strength (RS) Rating upgraded from 76 to 81 Tuesday.
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This exclusive rating from Investor’s Business Daily tracks price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock’s price movement over the trailing 52 weeks compares to all the other stocks in our database.
Over 100 years of market history shows that the top-performing stocks often have an RS Rating of over 80 as they begin their biggest runs.
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Now is not an ideal time to jump in since it isn’t near a proper buy zone, but see if the stock is able to offer and clear an appropriate buy point.
While earnings-per-share growth declined in the company’s most recent performance report from 0% to -173%, sales rose -39%, up from -40% in the prior report.
The company earns the No. 7 rank among its peers in the Steel-Specialty Alloys industry group. Allegheny Technologies (ATI) and Constellium Se (CSTM) are also among the group’s highest-rated stocks.
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The post Stock Upgrades: Carpenter Technology Shows Rising Relative Strength appeared first on Investor's Business Daily.
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Originally published at https://www.investors.com/ibd-data-stories/stock-upgrades-carpenter-technology-shows-rising-relative-strength-3/ on .
