The Relative Strength ( RS ) Rating for Methanex ( MEOH ) climbed into a new percentile Wednesday, with a rise from 74 to 82.
[ibd-display-video id=2385970 width=50 float=left autostart=true] This unique rating tracks market leadership by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Over 100 years of market history reveals that the market's biggest winners typically have an 80 or better RS Rating in the early stages of their moves.
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Methanex has risen more than 5% past a 53.40 entry in a second-stage cup with handle , meaning it's now out of a proper buy range. Look for the stock to create a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
While sales growth fell last quarter from 43% to 41%, earnings-per-share grew 6,100%, up from 0% in the previous report.
Methanex holds the No. 12 rank among its peers in the Chemicals-Specialty industry group. KMG Chemicals ( KMG ), Ferro ( FOE ) and Chase ( CCF ) 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.
