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One important metric to look for in a stock is an 80 or higher Relative Strength Rating. ArcelorMittal (MT) stock now clears that threshold, with a jump from 68 to 81 Friday.
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As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength.
This exclusive rating from Investor’s Business Daily identifies share price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock’s price movement over the trailing 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history shows that the best stocks typically have an 80 or higher RS Rating in the early stages of their moves.
See How IBD Helps You Make More Money In Stocks
Is ArcelorMittal Stock A Buy?
ArcelorMittal stock is not currently showing a potential entry point. See if the stock goes on to form a chart pattern that could launch a new move. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips.
The steel producer reported negative growth for both the top and bottom lines last quarter.
ArcelorMittal stock holds the No. 7 rank among its peers in the Steel-Producers industry group. Tenaris ADR (TS) and Nucor (NUE) are also among the group’s highest-rated stocks.
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Image and article originally from www.investors.com. Read the original article here.