When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This unique rating identifies market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock’s price action over the trailing 52 weeks matches up against the rest of the market.
Decades of market research shows that the stocks that go on to make the biggest gains typically have an RS Rating of above 80 in the early stages of their moves.
First Majestic Silver is now considered extended and out of buy range after clearing a 14.66 buy point in a first-stage cup with handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Earnings growth moved up in the company’s latest report from 100% to 1,000%, but the top line fell from 30% to 21%.
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The post Stocks To Watch: First Majestic Silver Sees RS Rating Rise To 84 appeared first on Investor's Business Daily.
Originally published at https://www.investors.com/ibd-data-stories/stocks-to-watch-first-majestic-silver-sees-rs-rating-rise-to-84/ on .