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Granite Construction Clears Key Benchmark, Hitting 80-Plus RS Rating

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On Tuesday, Granite Construction ( GVA ) reached a noteworthy performance benchmark, with its Relative Strength ( RS ) Rating moving into the 80-plus percentile with an improvement to 83, up from 78 the day before.

[ibd-display-video id=2102289 width=50 float=left autostart=true] IBD's unique RS Rating identifies technical performance by showing how a stock's price movement over the last 52 weeks compares to that of other stocks on the major indexes.

History reveals that the top-performing stocks often have an RS Rating of at least 80 in the early stages of their moves.

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Granite Construction has moved more than 5% past a 60.33 entry in a second-stage cup with handle , meaning it's now out of a proper buy range. Look for the stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week line.

While the company's top line growth fell last quarter from 26% to 19%, earnings-per-share grew 24%, up from 0% in the prior report.

The company earns the No. 2 rank among its peers in the Building-Heavy Construction industry group. Sterling Construction ( STRL ) is the top-ranked stock 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.

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