Steel Producer Cleveland-Cliffs Stock Climbs Into Higher RS Rating Level
On Thursday, steel producer Cleveland-Cliffs stock had its Relative Strength (RS) Rating upgraded from 79 to 85.
Focus on stocks with a rising relative price strength when looking for stocks to watch and buy.
Cleveland-Cliffs stock (CLF), which saw its Relative strength (RS) rating upgraded from 79 up to 85 on Thursday, is one stock that fits the bill.
Relative price strength is a factor to consider when deciding which stocks to purchase and monitor.
This unique rating tracks the technical performance of a stock by comparing its price movement over the past 52 weeks to other stocks in the major indexes.
In the early stages, stocks with RS ratings above 80 tend to be the ones that make the most gains.
Is Cleveland-Cliffs Stock A Buy?
The stock of Cleveland-Cliffs has reclaimed its moving average for the past 200 days, but is not near a buy zone. Watch to see if it builds a pattern that might lead to a new trend. You can read "Looking For The Next Big Stock Market Winners?" For more information, read "Start With These Three Steps".
Growth in both the top and bottom lines increased last quarter. Earnings increased 86% compared to the previous report, which showed a -48% drop. Revenue increased from -6 to -1.
Cleveland-Cliffs' stock is ranked No.4 among its peers in the Steel-Producers industry group. The stock of Cleveland-Cliffs is ranked No.4 among its peers within the Steel-Producers group. TERNIUM ADR and Steel Dynamics (STLD), are also amongst the highest-rated stocks in the group.