Credit: Shutterstock photoAlcoa ( AA ) saw a welcome improvement to its Relative Strength ( RS ) Rating on Friday, rising from 77 to 82.
[ibd-display-video id=2368044 width=50 float=left autostart=true] IBD's proprietary RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks matches up against that of all other stocks.
Over 100 years of market history reveals that the market's biggest winners tend to have an 80 or better RS Rating in the early stages of their moves.
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Alcoa has climbed more than 5% past a 39.88 entry in a first-stage cup without handle , meaning it's now out of a proper buy zone. Look for the stock to create a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Alcoa saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 0% to 238%. Revenue rose from 23% to 27%.
Alcoa earns the No. 11 rank among its peers in the Mining-Metal Ores industry group. Mesabi Trust ( MSB ), Vale ( VALE ) and Freeport McMoRan ( FCX ) 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.
