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POSCO Shows Market Leadership With Jump To 83 RS Rating

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On Friday, POSCO ( PKX ) hit an important technical milestone, seeing its Relative Strength ( RS ) Rating jump into the 80-plus percentile with an improvement to 83, up from 80 the day before.

[ibd-display-video id=449433 width=50 float=left autostart=true] This proprietary rating identifies market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.

Decades of market research reveals that the top-performing stocks typically have an RS Rating north of 80 in the early stages of their moves.

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POSCO is not currently offering a proper buying opportunity. See if the stock goes on to form a chart pattern that could ignite a new run.

POSCO posted 77% earnings growth in its most recent report. Sales gains came in at 17%. Keep an eye out for the company's next round of numbers on or around Oct. 26.

POSCO earns the No. 2 rank among its peers in the Steel-Producers industry group. Ternium ( TX ) 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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