Credit: Shutterstock photoIn a welcome move, General Cable ( BGC ) saw its Relative Strength Rating improve from 70 to 79 on Tuesday.
[ibd-display-video id=2102289 width=50 float=left autostart=true] This unique rating tracks market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the last 52 weeks matched up against all other stocks.
Over 100 years of market history shows that the market's biggest winners tend to have an RS Rating north of 80 in the early stages of their moves. See if General Cable can continue to show renewed price strength and clear that threshold.
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The stock is trying to complete a consolidation with a 20.90 buy point . See if the stock can clear the breakout price in volume at least 40% above average.
General Cable reported negative growth for both the top and bottom lines last quarter. General Cable is expected to release its next quarterly numbers on or around Nov. 2.
General Cable holds the No. 13 rank among its peers in the Electrical Power/Equipment industry group. BWX Technologies ( BWXT ), Franklin Electric ( FELE ) and Rockwell Automation ( ROK ) are among the top 5 highly rated stocks within the group.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
